Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Health Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of
HealthFirst Bluegrass, Inc. (Health 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 Health Center, it is not intended to and does not present the financial position, changes in
net assets or cash flows of the Health Center.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Health Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
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. Negative amounts shown on the Schedule, if any, represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Health Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The Health Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: Note 4: Federal Loan Programs
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Health Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The Health Center did not have any federal loan programs during the year ended December 31, 2023.