Notes to SEFA
Title: Basis of Presentation
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 Titls 2 U.S. Code of Federal Regulations part 200, Uniform Administrative Requirements, Cost Principles, and audit Requirements for Federal Awards, wherein certain kinds of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate. Instead the Organization used its provisional cost rate, which was trued up to the actual rate after the completion of its audit.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Health Quality Innovators (the “Organization” or “HQI”) under programs of the federal government. 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). Therefore, some accounts presented in this schedule may be different from accounts presented or used in the preparation of the basic financial statements. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Contingency
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 Titls 2 U.S. Code of Federal Regulations part 200, Uniform Administrative Requirements, Cost Principles, and audit Requirements for Federal Awards, wherein certain kinds of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate. Instead the Organization used its provisional cost rate, which was trued up to the actual rate after the completion of its audit.
The grant revenue amounts received and expended are subject to audit and adjustment. If any expenditures are disallowed by the grantor as a result of such an audit, any claim for reimbursement to the grantor would become a liability of the Organization. In the opinion of management, all grant expenditures are compliant with the terms of the grant agreements and applicable federal and state laws and regulations.
Title: 93.U-01
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 Titls 2 U.S. Code of Federal Regulations part 200, Uniform Administrative Requirements, Cost Principles, and audit Requirements for Federal Awards, wherein certain kinds of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate. Instead the Organization used its provisional cost rate, which was trued up to the actual rate after the completion of its audit.
Contract # 75FCMC19D0022/75FCMC20D0001 - No Assistance Listing Number is associated with the U.S. Department of Health and Human Services Center for Medicare and Medicaid Services contracts. Accordingly, the contract number has been included for identification purposes. Based on the 2023 Federal Compliance Supplement, fixed priced contracts awarded under Federal Acquisition Regulations are not subject to Subpart F – Audit Requirements under CFR Part 200. Accordingly, the Organization included only the time and material contract line items for this particular contract award.