Notes to SEFA
Title: ESTIMATED REFUND OF INDIAN HEALTH SERVICE COMPACT REVENUE
Accounting Policies: GENERAL. The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal financial assistance programs of SouthEast Alaska Regional Health Consortium (SEARHC). SEARHC's reporting entity is defined in Note 1 to SEARHC's financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government and local agencies is included on the schedule. BASIS OF ACCOUNTING. The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 to the SEARHC financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years or amounts returned to the funding agency. SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Included in accounts payable and accrued expenses, on the statement of net position in SEARHC's financial statements, is $6,822,902, which is the estimated refund of Indian Health Service Compact revenue due to SEARHC's anticipated final indirect rate for the 2021-2023 fiscal years being lower than the provisional rate used in those fiscal years.
Title: RECONCILIATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTS
Accounting Policies: GENERAL. The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal financial assistance programs of SouthEast Alaska Regional Health Consortium (SEARHC). SEARHC's reporting entity is defined in Note 1 to SEARHC's financial statements. Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government and local agencies is included on the schedule. BASIS OF ACCOUNTING. The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 to the SEARHC financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years or amounts returned to the funding agency. SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: SEARHC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of federal revenues reported in SEARHC’s financial statements to federal expenditures reported in the SEFA:
Indian Health Service Compact and grant support revenue, as reported in the statement of activities $ 107,779,346
Plus: IHS Compact pass-through funding recognized in the SEFA but not in the financial statements 639,839
Estimated refund of Indian Health Service Compact revenue recognized as revenue on the SEFA and reported as a liability in the financial statements 6,822,902
Grant revenue reported as miscellaneous income in the financial statements 794,813
Less: Private and local grant revenue reported as grant support revenue in the financial statements (68,692) State of Alaska financial assistance (1,655,925)
Federal share of expenditures as reported in the SEFA $ 114,312,283