Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Organization has established indirect cost rates for each federal grant received and does not use the 10% de minimis indirect cost rate.
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 (the Schedule), includes the federal award activity of the Organization under programs of the federal government for the year ended July 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the Organization.For grants under Assistance Listing 93.U01, total expenses included in the Schedule include both direct and indirect costs. Indirect costs are calculated as actual indirect costs of the Organization, accumulated in a pool, and allocated among the different grants. The indirect costs billed to the grantors, however, are calculated based on a predetermined indirect cost rate. Any variances are included in the consolidated statements of financial position as accounts receivable to be negotiated at the end of the grant period.
Title: NOTE 2 PROGRAM DESCRIPTIONS
Accounting Policies: Expenditures reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Organization has established indirect cost rates for each federal grant received and does not use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization is an independent Section 501(c)3 nonprofit organization whose mission is to collaborate and innovate to improve health. The Organization is a trusted expert in leading health care transformation to make lives better by developing and guiding health improvement initiatives across the continuum of care that result in better health and care for people and communities. The Organization improves health by strengthening organizational capacity, redesigning care delivery, and building community capacity, achieving improved health outcomes in Minnesota and nationally.