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. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Virginia
Health Workforce Development Authority 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 Virginia Health Workforce Development Authority,
it is not intended to and does not present the financial position, changes in net position, or cash flows of the Virginia Health
Workforce Development Authority.