Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Southwest Community Health Center does not draw for indirect administrative costs and has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Southwest Montana Community Health Center under programs of the federal government for the year ended January 31, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Southwest Montana Community Health Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Southwest Montana Community Health Center.
Title: Subrecipients
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Southwest Community Health Center does not draw for indirect administrative costs and has not elected to use the 10% de minimis cost rate.
Of the federal expenditures presented in the schedule, the Southwest Community Health Center provided no federal awards to subrecipients.
Title: Loans Outstanding
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Southwest Community Health Center does not draw for indirect administrative costs and has not elected to use the 10% de minimis cost rate.
The Southwest Community Health Center had no outstanding general loan balances at January 31, 2023.