Notes to SEFA
Title: Note A – Summary of Significant Accounting Policies
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Schedule of Expenditures of Federal Awards includes the federal awards activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statement. The organization has elected not to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
Title: Note B – Consolidated Health Centers
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Organization is the recipient of a Consolidated Health Centers (“CHC”) grant from the U.S. Department of Health and Human Services. The general purpose of the grant is to provide expanded health care service delivery for residents of Tulsa, Oklahoma, and the surrounding area. Terms of the grant generally provide for funding of the Organization’s operations based on an approval budget. Grant revenue is recognized as qualifying expenditures are incurred over the grant period. The Organization recognized $2,524,953 and $2,321,394 in revenues from this grant for the years ended November 30, 2023 and 2022, respectively. The Organization’s present CHC grant award covers the grant year ending April 30, 2024, and is authorized for funding in the amount of $2,098,462.
Title: Note C – Subrecipients
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. The organization has elected not to use the 10-percent de minimis direct cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The Organization did not provide a federal award to a subrecipient during the year ended November 30, 2023.