Audit 326918

Title: Subsequent Events Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Hidalgo Medical Services under the programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with 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 Hidalgo Medical Services, it is not intended to and does not present the financial position, results of operations, changes in net assets or cash flows of Hidalgo Medical Services. 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 allowed or are limited to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: Hidalgo Medical Services has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Organization’s management has evaluated subsequent events through October 25, 2024, the date the Schedule of Expenditures of Federal Awards was available to be issued.