Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The schedule of federal expenditures of federal awards is prepared on the same basis of accounting as the Organization's financial ststements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources. The information in schedule is presented in accordance with the requirements of 2 CFR Part 200, Unifor Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The terms of the gant agreement did not allow for use of indirect cost rate. The amounts expended consist of activities performed at a negotiated price with the pass-through entity.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of The San Diego County Medical Society Foundation DBA Champions for Health (the "Foundation") 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 the Foundation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Foundation.
Title: Summary of Significant Accounting Policies
Accounting Policies: The schedule of federal expenditures of federal awards is prepared on the same basis of accounting as the Organization's financial ststements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources. The information in schedule is presented in accordance with the requirements of 2 CFR Part 200, Unifor Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The terms of the gant agreement did not allow for use of indirect cost rate. The amounts expended consist of activities performed at a negotiated price with the pass-through entity.
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, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. The Foundation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance (2 CFR 200.414).
Title: Program Costs/Matching Contributions
Accounting Policies: The schedule of federal expenditures of federal awards is prepared on the same basis of accounting as the Organization's financial ststements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources. The information in schedule is presented in accordance with the requirements of 2 CFR Part 200, Unifor Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The terms of the gant agreement did not allow for use of indirect cost rate. The amounts expended consist of activities performed at a negotiated price with the pass-through entity.
The amounts shown as current year expenses represent only the federal, state, and local grant portion of the program costs. Entire program costs including the Foundation's portion, may be more than shown.