Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal award programs of the Organization. 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 Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The organization charges indirect costs allowed in the grant agreements.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal award activity of Yehowa Medical Services (the Organization) 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization as of and for the year ended June 30, 2024.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal award programs of the Organization. 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 Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The organization charges indirect costs allowed in the grant agreements.
The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal award programs of the Organization. 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 Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3 RELATIONSHIP OF THE SCHEDULE TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule, which is prepared on the accrual basis of accounting, presents the activity of all federal award programs of the Organization. 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 Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The organization charges indirect costs allowed in the grant agreements.
Consistent with management’s policy, federal awards are recorded as part of all government grants. As a result, the amount of total federal awards expended on the Schedule will not directly agree to the reported total grant revenue on the statement of activities as presented in the audited financial statements as of and for the year ended June 30, 2024.