Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activities in all federal award programs of CHI. All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or not-for-profit organizations are included on this schedule. The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis. Federal awards expenditures are reported on the statement of activities as grants. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported on the schedule of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.