Notes to SEFA
Title: NOTE A-- BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting described in Note A to the basic financial statements. 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.
De Minimis Rate Used: N
Rate Explanation: Vital has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of Vital Connections of the Midlands, Inc. ("VCM") 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 {CFR) 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 VCM, it is not intended to and does not present the financial position, changes in
net assets or cash flows of VCM.
Title: NOTE B -- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting described in Note A to the basic financial statements. 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.
De Minimis Rate Used: N
Rate Explanation: Vital has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting described in Note A to
the basic financial statements. 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 C -- INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting described in Note A to the basic financial statements. 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.
De Minimis Rate Used: N
Rate Explanation: Vital has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
VCM has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.