Notes to SEFA
Title: NOTE 2 - BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Lake County Tribal Health Consortium, Inc. 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 LCTHC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of LCTHC
De Minimis Rate Used: N
Rate Explanation: Lake County Tribal Health Consortium, Inc. allocates certain costs of administration and operations to programs based on a negotiated Indirect Cost Agreement. Lake County Tribal Health Consortium, Inc. received a provisional indirect cost rate of 56.70% from the Department of Health and Human Services for the years ended June 30, 2023. Accordingly, Lake County Tribal Health Consortium, Inc. has elected not to use the 10% de minimis indirect cost rate
The accompanying schedule of expenses of federal awards of Lake County Tribal Health Consortium, Inc. is presented on the accrual basis of accounting. 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).
Title: NOTE 4 - CLAIMS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Lake County Tribal Health Consortium, Inc. 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 LCTHC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of LCTHC
De Minimis Rate Used: N
Rate Explanation: Lake County Tribal Health Consortium, Inc. allocates certain costs of administration and operations to programs based on a negotiated Indirect Cost Agreement. Lake County Tribal Health Consortium, Inc. received a provisional indirect cost rate of 56.70% from the Department of Health and Human Services for the years ended June 30, 2023. Accordingly, Lake County Tribal Health Consortium, Inc. has elected not to use the 10% de minimis indirect cost rate
Lake County Tribal Health Consortium, Inc. has received federal grants for specific purposes that are subject to review and audit by the Federal Government. Although such audits could result in expenditure disallowance under grant terms, any required reimbursements are not expected to be material which have not already been recorded.