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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Treasure Coast Community Health, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Treasure Coast Community Health, Inc. 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 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 Treasure Coast Community Health, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Treasure Coast Community Health, Inc.
Title: RECEIVABLES FROM FEDERAL AGENCIES
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Treasure Coast Community Health, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
The Center submits requests for reimbursement to various federal agencies on a periodic basis. At December 31, 2023, the U.S. Department of Health and Human Services owed the Center $151,929.
Title: EMERGENCY INJURY DISASTER LOAN
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Treasure Coast Community Health, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
In July 2020, the Center obtained an unsecured promissory note (the “EIDL Loan”) for $150,000 through the Economic Injury Disaster Loan program (“EIDL”) established under the CARES Act and administered by the U.S. Small Business Administration (“SBA”). The EIDL Loan was made through SBA, has a thirty-year term, bears interest at 2.75% per annum, and matures July 2050. At December 31, 2023, the outstanding balance on the EIDL Loan was $140,780.
Title: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Treasure Coast Community Health, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
The Center did not provide federal awards to any subrecipients during the year ended December 31, 2023.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Treasure Coast Community Health, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
Federal program expenditures are reported on the consolidated statements of activities. In certain programs, the expenditures reported in the basic consolidated financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations, company matching, or in-kind contributions which are not included as federal awards.