Audit 295001

Title: Note 1 – Basis of Presentation Accounting Policies: The Schedule includes the federal grant activity of the Foundation and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of State, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee access an admin fee of 15%. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all Federal award programs of Jackson Medical Mall Foundation (the Foundation) that were received from Federal agencies and passed through other entities. The Foundation has prepared this Schedule of Expenditures of Federal Awards to comply with the provisions of Office of Management and Budget Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), Audits of States, Local Governments and Non-Profit Organizations. The Uniform Guidance stipulates that a Schedule of Expenditures of Federal Awards be prepared showing total expenditures of each Federal award program as identified in the Catalog of Federal Domestic Assistance (CFDA) and for other federal financial awards that have not been assigned a catalog number.

Title: Note 2 – Summary of Significant Accounting Policies Accounting Policies: The Schedule includes the federal grant activity of the Foundation and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of State, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee access an admin fee of 15%. The Schedule includes the federal grant activity of the Foundation and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of State, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

Title: Note 3 – Indirect Cost Rule Accounting Policies: The Schedule includes the federal grant activity of the Foundation and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of State, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee access an admin fee of 15%. The Foundation has not elected to use the 10-percent de minis indirect cost rate allowed under the Uniform Guidance.