Title: Note 2: Insurance coverage
Accounting Policies: Reporting Entity - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of TMF Health Quality Institute and its wholly-owned subsidiary, C2C Innovative Solutions, Inc. (collectively, the "Institute") for the year ended December 31, 2022. Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Basis of Presentation - The Schedule presents total federal awards expended for each individual program in accordance with Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award ("Uniform Guidance"). Federal award program titles are presented as entitled in the Assistance Listings. Basis of Accounting - The expenditures for each of the federal programs are presented on the accrual basis of accounting, which is defined in Note 2 of the Institute's basic consolidated financial statements. Such expenditure are recognized following the cost principles contained in the audit requirements of 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 Institute is subject to negotiated indirect cost rates and, therefore, is not eligible to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, 2 CFR Section 200.414 - Indirect (F&A) costs.
The Institute carried insurance coverage of up to $500,000 for employee dishonesty and forgery or alteration during the grant period.
Title: Note 4: Subrecipients
Accounting Policies: Reporting Entity - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of TMF Health Quality Institute and its wholly-owned subsidiary, C2C Innovative Solutions, Inc. (collectively, the "Institute") for the year ended December 31, 2022. Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Basis of Presentation - The Schedule presents total federal awards expended for each individual program in accordance with Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award ("Uniform Guidance"). Federal award program titles are presented as entitled in the Assistance Listings. Basis of Accounting - The expenditures for each of the federal programs are presented on the accrual basis of accounting, which is defined in Note 2 of the Institute's basic consolidated financial statements. Such expenditure are recognized following the cost principles contained in the audit requirements of 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 Institute is subject to negotiated indirect cost rates and, therefore, is not eligible to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, 2 CFR Section 200.414 - Indirect (F&A) costs.
The Institute did not serve as a pass-through to subrecipients during the year ended December 31, 2022.
Title: Note 5: Relationship of financial reports
Accounting Policies: Reporting Entity - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of TMF Health Quality Institute and its wholly-owned subsidiary, C2C Innovative Solutions, Inc. (collectively, the "Institute") for the year ended December 31, 2022. Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Basis of Presentation - The Schedule presents total federal awards expended for each individual program in accordance with Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award ("Uniform Guidance"). Federal award program titles are presented as entitled in the Assistance Listings. Basis of Accounting - The expenditures for each of the federal programs are presented on the accrual basis of accounting, which is defined in Note 2 of the Institute's basic consolidated financial statements. Such expenditure are recognized following the cost principles contained in the audit requirements of 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 Institute is subject to negotiated indirect cost rates and, therefore, is not eligible to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, 2 CFR Section 200.414 - Indirect (F&A) costs.
See notes to SEFA for the table/chart.
Title: Note 6: Contingencies
Accounting Policies: Reporting Entity - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of TMF Health Quality Institute and its wholly-owned subsidiary, C2C Innovative Solutions, Inc. (collectively, the "Institute") for the year ended December 31, 2022. Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Basis of Presentation - The Schedule presents total federal awards expended for each individual program in accordance with Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award ("Uniform Guidance"). Federal award program titles are presented as entitled in the Assistance Listings. Basis of Accounting - The expenditures for each of the federal programs are presented on the accrual basis of accounting, which is defined in Note 2 of the Institute's basic consolidated financial statements. Such expenditure are recognized following the cost principles contained in the audit requirements of 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 Institute is subject to negotiated indirect cost rates and, therefore, is not eligible to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, 2 CFR Section 200.414 - Indirect (F&A) costs.
Expenditures incurred by the Institute are subject to audit and possible disallowance by federal grantor agencies. Management believes that, if audited, any adjustment for disallowed expenses would be immaterial.
Title: Note 7: Subsequent events
Accounting Policies: Reporting Entity - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of TMF Health Quality Institute and its wholly-owned subsidiary, C2C Innovative Solutions, Inc. (collectively, the "Institute") for the year ended December 31, 2022. Because the Schedule presents only a selected portion of the operations of the Institute, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Institute. Basis of Presentation - The Schedule presents total federal awards expended for each individual program in accordance with Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award ("Uniform Guidance"). Federal award program titles are presented as entitled in the Assistance Listings. Basis of Accounting - The expenditures for each of the federal programs are presented on the accrual basis of accounting, which is defined in Note 2 of the Institute's basic consolidated financial statements. Such expenditure are recognized following the cost principles contained in the audit requirements of 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 Institute is subject to negotiated indirect cost rates and, therefore, is not eligible to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, 2 CFR Section 200.414 - Indirect (F&A) costs.
The Institute's management has evaluated subsequent events through May 3, 2023, the date the report was available to be issued.