Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is prepared on U.S. GAAP. 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.
De Minimis Rate Used: N
Rate Explanation: The allocation of indirect costs was completed through accumulation of such costs into separate groupings which were then allocated individually to the functions which were benefited in proportion to the staff hours charged to each program for that month.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Mexico Primary Care Association, Inc. for the year ended June 30, 2023. This schedule of expenditures of federal awards is prepared on U.S. GAAP, the same basis of accounting as NMPCA’s financial statements. Federal grant revenue recognized is greater than federal awards expended due to prepaid software subscriptions and support charged to federal grants. 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 2. Summary of Significant Accounting Policies
Accounting Policies: The schedule of expenditures of federal awards is prepared on U.S. GAAP. 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.
De Minimis Rate Used: N
Rate Explanation: The allocation of indirect costs was completed through accumulation of such costs into separate groupings which were then allocated individually to the functions which were benefited in proportion to the staff hours charged to each program for that month.
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. New Mexico Primary Care Association, Inc. has elected not to use the 10 percent de minimis indirect cost rate as followed under the Uniform Guidance.
Title: Note 3. Provided to Subrecipients
Accounting Policies: The schedule of expenditures of federal awards is prepared on U.S. GAAP. 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.
De Minimis Rate Used: N
Rate Explanation: The allocation of indirect costs was completed through accumulation of such costs into separate groupings which were then allocated individually to the functions which were benefited in proportion to the staff hours charged to each program for that month.
The following is a list of federal awards to subrecipients for the year ended June 30, 2023: See the Notes to the SEFA for table.