Notes to SEFA
Title: Note A-Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10-percent 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 Kuumba Community Health & Wellness Center, Inc. dba New Horizons Healthcare under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 Kuumba Community Health & Wellness Center, Inc. dba New Horizons Healthcare, it is not intended to and does not present the financial position, change in net assets, or cash flows of Kuumba Community Health & Wellness Center, Inc. dba New Horizons Healthcare.
Title: Note D-Loan Balances
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The Organization has no loans or loan guarantees which are subject to reporting requirements for the current year.
Title: Note E-Subrecipients
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
No federal funding was passed through to subrecipients during the fiscal year ended May 31, 2024.