Notes to SEFA
Title: General
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 the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Michigan Primary Care Association has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Michigan Primary Care Association under programs of the federal government for the year ended September 30, 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 Michigan Primary Care Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Michigan Primary Care Association.
Title: Relationship to Basic Financial Statements
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 the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Michigan Primary Care Association has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following schedule is a reconciliation between the grants revenue reported on the Statement of Activities and the Schedule of expenditures of Federal Awards. Grants revenue per financial statements $ 15,704,343; Less: state funded portion of federal awards (131,741); Less: nonfederal grant revenues (6,243,806); Federal expenditures per schedule of expenditures of federal awards $ 9,328,796.