Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures 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. The Center has elected not to use 10 percent de minimis indirect cost rateas allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Center has elected not to use 10 percent de minimis indirect cost rateas allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of the Mountain Area Health Education Center, Inc. (the Center) under programs of the federal and state government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Center.
Title: NOTE 3 CONTINGENCIES
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures 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. The Center has elected not to use 10 percent de minimis indirect cost rateas allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Center has elected not to use 10 percent de minimis indirect cost rateas allowed under the Uniform Guidance.
The Center is subject to audit examination by the funding sources of grants to determine its compliance with certain grant provisions. In the event that expenditures could be disallowed through the audit, repayment of such disallowances could be required.