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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Center has a federally negotiated indirect cost rate of 25.60% for major programs.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Miami Beach Community Health Center, Inc. (“the Center”) under programs of the federal government for the year ended December 31, 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 the Center, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Center.
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Center has a federally negotiated indirect cost rate of 25.60% for major programs.
Federal program expenditures are reported on the statements of activities. In certain programs, the expenditures reported in the basic financial statements may defer from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations, company matching, or in-kind contributions which are not included as federal awards.
Title: RECEIVABLE FROM DEPARTMENT OF HEALTH AND HUMAN SERVICES
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Center has a federally negotiated indirect cost rate of 25.60% for major programs.
The Center submits requests for reimbursement to the Department of Health and Human Services on a periodic basis. At December 31, 2023, receivables from the Department of Health and Human Services totaled $579,780.
Title: SUBRECIPIENTS
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Center has a federally negotiated indirect cost rate of 25.60% for major programs.
There were no federal awards provided to subrecipients.