Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on this 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. The Medical Center has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The entity did not utilize the de minimis cost rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Miners Colfax Medical Center (the Medical 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 Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Medical Center.