Notes to SEFA
Title: Note 3. Noncash Assistance, Insurance, Loans and Loan Guarantees Oustanding
Accounting Policies: Note 1.Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of North Central Behavioral Health Systems, Inc. (NCBHS) under programs of the federal government for the year ended June 30, 2022. The information in this Schedule 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 NCBHS, it is not intended to and does not present the financial position, changes in net assets or cash flows of NCBHS.Note 2.Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NCBHS did not receive any noncash assistance during the year ended June 30, 2022. There were no federal awards expended for insurance or any loans or loan guarantees outstanding as of June 30, 2022.