Title: Summary of Significant Accounting Policies
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
This summary of significant accounting policies of La Clinica de Familia, Inc. is presented to assist in understanding La Clinica de Familia, Inc.’s Schedule of Expenditures of Federal Awards (SEFA). The Schedule and notes are representations of La Clinica de Familia, Inc.’s management, who is responsible for their integrity and objectivity.
Title: Basis of Accounting and Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Title: Indirect Costs
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
The Schedule of Expenditures of Federal Awards includes a portion of costs associated with general and administrative activities, which is allocated to federal assistance programs under negotiated formulas commonly referred to as indirect cost rates and federally approved cost allocation plans. La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
Title: Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
There were no subrecipients of the federal awards received by La Clinica de Familia, Inc. for the year ended May 31, 2024.
Title: Affiliate
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414.
La Clinica’s Affiliate, La Clinica de Familia Title Holding Corporation, did not receive any federal awards for the year ended May 31, 2024.