Notes to SEFA
Title: 1-A
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards has been prepared using the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Basis of Presentation - The information in the accompanying Schedule of Expenditures of Federal Awards is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Federal Awards - According to the Single Audit Act Amendments of 1996 (Public Law 104-156) and the Uniform Guidance, Federal Awards consist of Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. Federal Financial Assistance - Pursuant to the Single Audit Act Amendments of 1996 (Public Law 104-156) and the Uniform Guidance, Federal financial assistance is defined as assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance.Major Programs - A risk-based approach to determine which Federal programs are major programs is required. Federal programs are classified as either Type A or Type B programs. The dollar threshold used to distinguish between Type A and Type B programs is $750,000.Indirect Costs - AltaPointe has elected to use the 10% de minimus indirect cost rule under Uniform Guidence.
Title: 1-B
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards has been prepared using the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Basis of Accounting - Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The information presented in the Schedule of Expenditures of Federal Awards has been prepared using the accrual basis of accounting, the same basis of accounting used to prepare the basic financial statements as described in Note 1 of the financial statements.The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Therefore, amounts presented in this schedule for Assistance Listing Number 93.498 differ from amounts used in the preparation of the financial statements as described in Note 2.
Title: 2
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards has been prepared using the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Reconciliation of Expenditures of Federal Awards to Current Federal Revenues: Expenditures of Federal Awards, page 53, $15,196,619 Less Provider Relief Fund reported on
Schedule of Expenditures of Federal Awards
during current reporting period, (997,975), Federal Award Revenue, page 43 $14,198,644