Notes to SEFA
Title: 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 where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cherry Health and Related Entities has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of Cherry Health and Related Entities 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 Cherry Health and Related Entities, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Cherry Health and Related Entities.
Title: 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 where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cherry Health and Related Entities has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
No amounts were provided to subrecipients.
Title: Reconciliation to the Consolidated Financial Statements
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 where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cherry Health and Related Entities has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Federal revenues are recorded as federal grant revenue on the Consolidated Statement of Operations as
follows:
Federal grant revenue per financial statements $ 13,141,570
Beginning loan balance (10.766) of agreement with U.S. Department
of Agriculture 8 20,579
Total expenditures of federal awards $ 13,962,149