Notes to SEFA
Title: GENERAL
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis ofaccounting, which is described in Note 2 of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activities of all federal awards programs of PryMed Medical Care, Inc. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies, are included in the schedule. The information in this schedule is presented in accordance with the requirements by The Uniform Guidance.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis ofaccounting, which is described in Note 2 of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Revenues and expenses of the federal awards programs are included in the Organization's financial statements. The reconciliation between the expenses in the financial statements and expenditures in the Schedule of Expenditures of Federal Awards, reference to note 3 on page 21 of pdf.