Title: NOTE A - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the federal award and state financial assistance activity of Mental Health Care, Inc. under programs of the federal government and State of Florida 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Mental Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mental Health Care, Inc.
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 and Chapter 10.650 Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Mental Health Care, Inc. has elected to use the 10-percent de minimis indirect cost rate under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the federal award and state financial assistance activity of Mental Health Care, Inc. under programs of the federal government and State of Florida 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Mental Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mental Health Care, Inc. 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 and Chapter 10.650 Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: NOTE B - INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the federal award and state financial assistance activity of Mental Health Care, Inc. under programs of the federal government and State of Florida 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Mental Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mental Health Care, Inc.
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 and Chapter 10.650 Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Mental Health Care, Inc. has elected to use the 10-percent de minimis indirect cost rate under the Uniform Guidance.
Mental Health Care, Inc. has elected to use the 10-percent de minimis indirect cost rate under the Uniform Guidance
Title: NOTE C - LOAN GUARANTEES, NON-AMORTIZING MORTGAGES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the federal award and state financial assistance activity of Mental Health Care, Inc. under programs of the federal government and State of Florida 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Mental Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mental Health Care, Inc.
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 and Chapter 10.650 Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Mental Health Care, Inc. has elected to use the 10-percent de minimis indirect cost rate under the Uniform Guidance.
The Loan Guarantees, Non-Amortizing Mortgages are administered directly by Mental Health Care, Inc., and balances and transactions relating to this program are included in Mental Health Care, Inc.’s basic financial statements. The outstanding mortgages at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of the mortgages outstanding at June 30, 2024 is $7,488,863. As long as Mental Health Care, Inc. remains qualified under the U.S. Department of Housing and Urban Development, Community Development Block Grants/Entitlement Grants program, repayment of the principal balance on the mortgages are deferred until final maturity in 2031 and 2040. At that time, the mortgages will be forgiven.
Title: NOTE D - STATE MATCHING FUNDS FOR FEDERAL PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the federal award and state financial assistance activity of Mental Health Care, Inc. under programs of the federal government and State of Florida 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Mental Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mental Health Care, Inc.
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 and Chapter 10.650 Rules of the Auditor General, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Mental Health Care, Inc. has elected to use the 10-percent de minimis indirect cost rate under the Uniform Guidance.
State funds awarded to Gracepoint as matching funds for federal programs consisted of the following: "See the Notes to the SEFA for table"