Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: See Note 2 for significant accounting policies
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Norwalk Community Health Center, Inc. (NCHC) under programs of the federal government for the year ended June 30, 2024. 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 NCHC, it is not intended to and does not present the financial position, changes in net assets or cash flows of NCHC.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: See Note 2 for significant accounting policies
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
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.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: See Note 2 for significant accounting policies
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
NCHC has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.