Notes to SEFA
Title: Note 1 - 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 Title 2 U.S. Code of Federal Regulations of the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Association has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Association has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Virginia Community Healthcare Association under programs of the federal government for the year ended March 31, 2024. The information in this Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Because the Schedule presents only a selected portion of the operations of the Virginia Community Healthcare Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Virginia Community Healthcare Association.
Title: Note 2 - Summary of Significant Accounting Policies
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 Title 2 U.S. Code of Federal Regulations of the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Association has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Association has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Association has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.