Title: BASIS FOR PRESENTATION
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The accompanying schedule of expenditures of federal and non-federal awards (the “Schedule”) includes the federal award activity of McKinley Children’s Center, Inc. (“McKinley”), under programs of the federal 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 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 McKinley, it is not intended to, and does not present the financial
position and changes in net assets, or cash flows of McKinley.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
McKinley has elected not to use the 10 percent of minims indirect cost rate allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
De Minimis Rate Used: N
Rate Explanation: Not applicable
McKinley provided no federal awards to subrecipients for the year ended June 30, 2023.
Title: PROVIDER RELIEF FUND
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
De Minimis Rate Used: N
Rate Explanation: Not applicable
In compliance with the OMB Compliance Supplement, the accompanying Schedule of Expenditures of Federal and Non-federal Awards for the year ended June 30, 2023 includes funds under the Provider Relief Fund program totaling to $495,538 received by McKinley in March 2022 and spent during fiscal year 2022.
Title: OTHER INFORMATION
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal awards received directly from a federal agency and federal funds received indirectly by McKinley from a nonfederal agency or other organization. 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.
De Minimis Rate Used: N
Rate Explanation: Not applicable
McKinley did not receive federal insurance, loans, or non-cash assistance during the year ended June 30, 2023