Notes to SEFA
Accounting Policies: Note 1 DescriptionEau Claire Cooperative Health Center has adopted Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Those standards were adopted to fulfill the financial and compliance auditrequirements of federal grantor agencies. For purposes of implementing Uniform Guidance, federalgrant awards were made susceptible to audit and are included in the Schedule of Expenditures ofFederal Awards.Note 2 Summary of Significant Accounting PoliciesThe financial activity shown on the Schedule of Expenditures of Federal Awards reflects amountsrecorded by Eau Claire Cooperative Health Center during its fiscal year January 1, 2022, throughDecember 31, 2022, and accordingly does not include a full years financial activity for grantsawarded or terminated on dates not coinciding with Eau Claire Cooperative Health Centers fiscalyear. Eau Claire Cooperative Health Center reports these on the accrual basis of accounting. EauClaire Cooperative Health Center has not elected to use the 10 percent de minimis cost rate as coveredin 2 CFR 200.414 when applicable.Note 3 Loans OutstandingEau Claire Cooperative Health Center had the following loan balance outstanding at December 31,2022:Program Title Community Facilities LoanFederal AL/Other # 10.766Amount Outstanding $1,121,459
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.