Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The SEFA is presented using the accrual basis of accounting . Expenditures are recognized following the cost principles contained in the Uniform Guidance .
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The accompanying Schedule of Expenditures of Federeal Awards ("SEFA") includes the federal grant activity tof the Latino Health Access (the "Organization") under programs of the fedeeral government for the year ended December 31, 2023. Th e information in this SEFA is presented in accordance with the standards applicable to ffinancial audits contained in Government Auditing Standards issued by the Comptroller General of the United states of America, and the audit requirements of Title 2 U.S. Code of Federal Regulation (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards ("Uniform Guidance"). Because the SEFA presents only a selected portiion of operations of the Organziation, It is not intended to and does not present the financial position , chnages in net assets, or cash flow of the Organization. Federal awards received directly from federal agencies as well as federal awards passed throuogh local agencies are included in the SEFA.
Title: Summary of Significant Accounting Policies
Accounting Policies: The SEFA is presented using the accrual basis of accounting . Expenditures are recognized following the cost principles contained in the Uniform Guidance .
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization's financial statements. 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.
Title: Relationship to Federal, State, County, and City awards Reports
Accounting Policies: The SEFA is presented using the accrual basis of accounting . Expenditures are recognized following the cost principles contained in the Uniform Guidance .
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
Amounts reported in the SEFA agree with the amounts reported in the related federal, state, county, and city programs.
Title: Indirect Cost Rate
Accounting Policies: The SEFA is presented using the accrual basis of accounting . Expenditures are recognized following the cost principles contained in the Uniform Guidance .
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The SEFA is presented using the accrual basis of accounting . Expenditures are recognized following the cost principles contained in the Uniform Guidance .
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The Organization did not provide federal awards to subrecipients.