Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures 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.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Treasure Coast Community Health, Inc. under programs of the federal government for the year ended December 31, 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 Schedulepresents only a selected portion of the operations of Treasure Coast Community Health, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Treasure Coast Community Health, Inc.
Title: RECEIVABLES FROM FEDERAL AGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures 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.
The Center submits requests for reimbursement to various federal agencies on a periodic basis. At December 31, 2022, the U.S. Department of Health and Human Services owed the Center $136,921.
Title: EMERGENCY INJURY DISASTER LOAN
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures 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.
In July 2020, the Center obtained an unsecured promissory note (the EIDL Loan) for $150,000 through the Economic Injury Disaster Loan program (EIDL) established under the CARES Act, and administered by the U.S. Small Business Administration (SBA). The EIDL Loan was made through SBA, has a thirty-year term, bears interest at 2.75% per annum, and matures July 2050. At December 31, 2022, the outstanding balance on the EIDL Loan was $144,298.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures 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.
The Center did not provide federal awards to any subrecipients during the year ended December 31, 2022.