Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Amounts reported as expenditures in the accompanying schedule of expenditures of federal awards may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of actual requirements to report cumulative amounts and certain accruals on the related federal financial reports.
De Minimis Rate Used: N
Rate Explanation: The Association utilizes the HHS approved Indirect Cost Rate of 22.20%
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Amounts reported as expenditures in the accompanying schedule of expenditures of federal awards may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of actual requirements to report cumulative amounts and certain accruals on the related federal financial reports.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Amounts reported as expenditures in the accompanying schedule of expenditures of federal awards may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of actual requirements to report cumulative amounts and certain accruals on the related federal financial reports.
De Minimis Rate Used: N
Rate Explanation: The Association utilizes the HHS approved Indirect Cost Rate of 22.20%
The Association did not elect to use the 10% de minimis indirect cost rate.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Amounts reported as expenditures in the accompanying schedule of expenditures of federal awards may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of actual requirements to report cumulative amounts and certain accruals on the related federal financial reports.
De Minimis Rate Used: N
Rate Explanation: The Association utilizes the HHS approved Indirect Cost Rate of 22.20%
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the American Heart Association (the Association) under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule only presents a select portion of the operations of the Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Association.