Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Certain amounts on the Schedule of Expenditures of Federal Awards are based on revenues recognized rather than expenses incurred due to the grant award being partially or fully based on a feefor- service platform rather than a cost reimbursement platform.
De Minimis Rate Used: N
Rate Explanation: Lifelong: Health for All has a negotiated indirect cost rate for use on federal grants and contracts. For January 1, 2023 through December 31, 2023, the predetermined rate was 21.65%. The rate is based on the Simplified Allocation Method. As such, Lifelong: Health for All is not eligible to elect use of the 10% de minimis indirect cost rate
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Lifelong: Health for All and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.