Audit 23662

Accounting Policies: NOTE 1 BASIS FOR PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal awards activity of Wilmington Community Clinic (the Clinic) 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 the Clinic, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of the Clinic as of and for the year ended June 30, 2022.NOTE 2 BASIS OF ACCOUNTINGExpenditures reported on the Schedule are recognized 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.The Clinic has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE 3 RELATIONSHIP OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTSConsistent with management's policy, federal awards are recorded in various revenue categories. As a result, the amount of total federal awards reported on the Schedule does not agree to total grant revenue on the Statement of Activities as presented in the Clinic's audited financial statements for the year ended June 30, 2022. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate.