Notes to SEFA
Title: Basis of Presentation
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 OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Open Health is reimbursed for actual costs incurred and does not apply an indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Open Health Care Clinic (Open Health) 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Open Health, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Open Health.
Title: 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 OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Open Health is reimbursed for actual costs incurred and does not apply an indirect cost rate.
The amount reported on the Schedule for the Provider Relief Fund is based upon a reporting method that is different than those required by general accepted accounting principles. Therefore, the total amounts reported on the Schedule do not coincide with the amounts reported on the face of the Statement of Activities and Changes in Net Assets.