Notes to SEFA
Title: PRESENTATION
Accounting Policies: PRESENTATION
De Minimis Rate Used: N
Rate Explanation: THE ENTITY DID NOT ELECT TO USE THE DEMINMUS INDIRECT COST RATE
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lee County Cooperative Clinic, Inc. under programs of the federal government for the year ended March 31, 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 Lee County Cooperative Clinic, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Lee County Cooperative Clinic, Inc.
Title: BASIS OF ACCOUNTING
Accounting Policies: PRESENTATION
De Minimis Rate Used: N
Rate Explanation: THE ENTITY DID NOT ELECT TO USE THE DEMINMUS INDIRECT 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: INDIRECT COST RATE
Accounting Policies: PRESENTATION
De Minimis Rate Used: N
Rate Explanation: THE ENTITY DID NOT ELECT TO USE THE DEMINMUS INDIRECT COST RATE
The Entity did not elect to use the 10% de minimis indirect cost rate.