Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying schedule of Expenditures of Federal Awards include the federal grant activity of the Organization and is presented in accordance with accounting principles generally accepted in the United States of America. 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. The information in the schedule is presented with the requirements of the OMB Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The organization elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414. Uniform Guidance, 200.510(6), requires the Organization to disclose whether or not it elected to use the 10% de minimis cost rate that 200.414(f) allows for nonfederal entities that have never received a negotiated cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Health Education Council, Inc., under programs of the federal government for the year ended June 30, 2024, 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 Health Education Council, Inc.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of Expenditures of Federal Awards include the federal grant activity of the Organization and is presented in accordance with accounting principles generally accepted in the United States of America. 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. The information in the schedule is presented with the requirements of the OMB Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The organization elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414. Uniform Guidance, 200.510(6), requires the Organization to disclose whether or not it elected to use the 10% de minimis cost rate that 200.414(f) allows for nonfederal entities that have never received a negotiated cost rate.
The accompanying schedule of Expenditures of Federal Awards include the federal grant activity of the Organization and is presented in accordance with accounting principles generally accepted in the United States of America. 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. The information in the schedule is presented with the requirements of the OMB Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Note 3 - De Minimis
Accounting Policies: The accompanying schedule of Expenditures of Federal Awards include the federal grant activity of the Organization and is presented in accordance with accounting principles generally accepted in the United States of America. 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. The information in the schedule is presented with the requirements of the OMB Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The organization elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414. Uniform Guidance, 200.510(6), requires the Organization to disclose whether or not it elected to use the 10% de minimis cost rate that 200.414(f) allows for nonfederal entities that have never received a negotiated cost rate.
The organization elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR 200.414. Uniform Guidance, 200.510(6), requires the Organization to disclose whether or not it elected to use the 10% de minimis cost rate that 200.414(f) allows for nonfederal entities that have never received a negotiated cost rate.