Notes to SEFA
Title: Note A: 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, 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. The Center did not elect to use the de minimis cost rate.
De Minimis Rate Used: N
Rate Explanation: The Center did not elect to use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Mountain Valleys Health Centers, Inc. (the “Center”) under programs of the federal
government 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). Because
the Schedule presents only a selected portion of the operations of the Center, it is not intended to, and does
not, present the financial position, changes in net assets, or cash flows for the Center.