Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of
JAMHI Health & Wellness, Inc. under programs of the federal government for the year ended June 30, 2023. 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 JAMHI Health & Wellness, Inc., it is not
intended to and does not represent the financial position, change in net assets or cash flows of JAMHI Health &
Wellness, Inc. Expenditures reported on the Schedule are reported on the full 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.
De Minimis Rate Used: Y
Rate Explanation: The JAMHI Health & Wellness, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.