Title: Note A – Summary of Significant Accounting Policies
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Schedule of Expenditures of Federal Awards includes the federal awards activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statement. The organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note B – Consolidated Health Centers
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Organization is the recipient of a Consolidated Health Centers (“CHC”) grant from the U.S. Department of Health and Human Services. The general purpose of the grant is to provide expanded health care service delivery for residents of Wetumka, Henryetta and Wewoka, Oklahoma, and the surrounding area. Terms of the grant generally provide for funding of the Organization’s operations based on an approval budget. Grant revenue is recognized as qualifying expenditures are incurred over the grant period. The Organization recognized $3,194,078 and $3,010,014 in revenues from this grant for the years ended December 31, 2023 and 2022, respectively. The Organization’s present CHC grant award covers the grant year ending April 30, 2024, and is authorized for funding in the amount of $3,012,433.
Title: Note C – 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Organization did not provide a federal award to a subrecipient during the year ended December 31, 2023.
Title: Note D – Provider Relief Fund
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The organization recognized $439,696 in lost revenue related to these funds for the fiscal year ended December 31, 2020. However, because of the reporting requirements as promulgated in the OMB 2021 Compliance Supplement, no Provider Relief Fund Expenditures were included on the organization’s December 31, 2020 Schedule of Expenditures of Federal Awards. Instead, because of the reporting requirements as promulgated in the OMB 2021 Compliance Supplement these expenditures were reported on the December 31, 2021 Schedule of Expenditures of Federal Awards. The organization also recognized $18,294 in lost revenue related to these funds for the year ended December 31, 2021, which were also reported on the organizations December 31, 2021 Schedule of Expenditures of Federal Awards.The organization recognized $93,262 in lost revenue related to Period 4 funds for the fiscal
year ended December 31, 2022. These funds are being reported on the December 31, 2022
Schedule of Expenditure of Federal Awards.
The organization recognized $107,913 in lost revenue related to Period 5 funds for the fiscal
year ended December 31, 2022. The organization as of December 31, 2022 currently has
$88,706 in unexpended Period 5 funds which are being carried as Advanced Payments and
Restricted Cash in the organization’s Statement of Financial Position as of December 31,
2023. These funds must be spent by June 30, 2023 and along with the $107,913 expended in
FYE December 31, 2022 will be reported on the December 31, 2023 Schedule of Expenditure
of Federal Awards. The $88,706 in unexpended Period 5 funds along with $1,896 in interest
earned on these funds were returned to the Federal Government in FYE December 31, 2023