Title: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.
The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
Title: NOTE 2 – REPORTING ENTITY
Accounting Policies: The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.
The reporting entity consists of the Organization. The Organization includes a Schedule of Expenditures of Federal Awards and State Financial Assistance in the Single Audit and Compliance Section.
Title: NOTE 3 – BASIS OF ACCOUNTING
Accounting Policies: The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.
The accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards and State Financial Assistance. Under the accrual basis, revenues are recognized when they become earned. Expenses generally are recorded when a liability is incurred.
Title: NOTE 4 – SUBRECIPIENTS
Accounting Policies: The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.
The Organization had no subrecipients during the fiscal year.
Title: NOTE 5 – INDIRECT COST RATES
Accounting Policies: The accompanying policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of Suwannee River Area Health Education Center, Inc. (the “Organization”) have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and State of Florida Chapter 10.650, Rules of the Auditor General of Florida.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.
The Organization has elected to not use the 10% de minimis indirect cost rate for its federal programs and state projects for the year ended June 30, 2024.