Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Basis of accounting: The accompanying Schedule includes the federal grant activity of
the Organization and is presented on the accrual basis of accounting. The information in
the 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 statements. The amounts presented
in the Schedule have been reconciled to the Organization’s basic financial statements.
Cost allocation: The Organization allocates indirect costs related to grant programs in
accordance with, the cost principles contained in the Uniform Guidance. The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance.
Program costs/Matching contributions: The amounts shown as current year expenses
represent only the federal grant portion of the program costs. Entire program costs,
including the Organization portion, may be more than shown.
De Minimis Rate Used: Y
Rate Explanation: The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards (the Schedule)
summarizes the federal awards expended by Mississippi Health Safe Net (the
Organization) for the year ended July 31, 2023.
For the purposes of the Schedule, federal awards include all grants, contracts, loans, and
loan guarantee agreements entered into directly between the Organization and agencies
and departments of the federal government. The Organization has classified all awards
into major and nonmajor programs in accordance with the provisions of Title 2 U.S.
Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The
major programs includes the following grants:
93.527 – Health Centers Cluster – Grants for New and Expanded Services under the
Health Center Program
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Basis of accounting: The accompanying Schedule includes the federal grant activity of
the Organization and is presented on the accrual basis of accounting. The information in
the 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 statements. The amounts presented
in the Schedule have been reconciled to the Organization’s basic financial statements.
Cost allocation: The Organization allocates indirect costs related to grant programs in
accordance with, the cost principles contained in the Uniform Guidance. The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance.
Program costs/Matching contributions: The amounts shown as current year expenses
represent only the federal grant portion of the program costs. Entire program costs,
including the Organization portion, may be more than shown.
De Minimis Rate Used: Y
Rate Explanation: The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance
Basis of accounting: The accompanying Schedule includes the federal grant activity of
the Organization and is presented on the accrual basis of accounting. The information in
the 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 statements. The amounts presented
in the Schedule have been reconciled to the Organization’s basic financial statements.
Cost allocation: The Organization allocates indirect costs related to grant programs in
accordance with, the cost principles contained in the Uniform Guidance. The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance.
Program costs/Matching contributions: The amounts shown as current year expenses
represent only the federal grant portion of the program costs. Entire program costs,
including the Organization portion, may be more than shown.
Title: NOTE 3 OTHER NONCASH ASSISTANCE
Accounting Policies: Basis of accounting: The accompanying Schedule includes the federal grant activity of
the Organization and is presented on the accrual basis of accounting. The information in
the 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 statements. The amounts presented
in the Schedule have been reconciled to the Organization’s basic financial statements.
Cost allocation: The Organization allocates indirect costs related to grant programs in
accordance with, the cost principles contained in the Uniform Guidance. The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance.
Program costs/Matching contributions: The amounts shown as current year expenses
represent only the federal grant portion of the program costs. Entire program costs,
including the Organization portion, may be more than shown.
De Minimis Rate Used: Y
Rate Explanation: The
Organization has elected to use the 10% de minimis indirect cost rate as allowed under
the Uniform Guidance
The Organization did not receive federal noncash assistance during the year ended July
31, 2023.