Notes to SEFA
Title: Subrecipients
Accounting Policies: Summary of Significant Accounting Policies - Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Indirect Cost Rate - The Association was granted an indirect cost reimbursement rate of 28.30% in their "Non-Profit Rate Agreement" letter dated August 22, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Association provided $2,335,099 in federal awards to subrecipients relatedto the Rural Health Best Practices Community Development Cooperative Agreement (CFDA93.155).
Title: Additional Audits
Accounting Policies: Summary of Significant Accounting Policies - Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Indirect Cost Rate - The Association was granted an indirect cost reimbursement rate of 28.30% in their "Non-Profit Rate Agreement" letter dated August 22, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Grantor and regulatory agencies reserve the right to conduct additional audits of the Association's grant programs. Such audits may result in disallowed costs to the Association. However, management does not believe that such audits would result in anydisallowed costs that would be material to the Association's financial position at December 31,2022 and 2021 .