Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of AHC,
Inc. and its Affiliates and Subsidiaries 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 the Uniform
Guidance. The financial statements of certain subsidiaries and affiliates included in the consolidated and
combined financial statements were not audited in accordance with Government Auditing Standards and are
not subject to the requirements of the Uniform Guidance as discussed in Note 31 to the consolidated and
combined financial statements. Because the Schedule presents only a selected portion of the operations of AHC,
Inc. and its Affiliates and Subsidiaries, it is not intended to and does not present the financial position, changes
in net assets or cash flows of AHC, Inc. and its Affiliates and Subsidiaries.
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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Passthrough entity identifying numbers are presented where applicable. The Organization has
elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Loan balances at the beginning of the year and loans made during the year are included in the federal
expenditures presented in the Schedule. The balance of the outstanding federally insured loans at December
31, 2023 is $9,046,667.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.