Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available and when applicable.
De Minimis Rate Used: N
Rate Explanation: Bridging Access to Care, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. BAC has elected to use the 15% approved provisional negotiated indirect cost rate, which is effective July 1, 2016 until amended. Effective July 1, 2021, the indirect cost rate increased to 18%.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Bridging Access to Care, Inc. (a not-for-profit organization) (BAC) 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 this Schedule presents only a selected portion of the operations of BAC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BAC.
Title: Sub-Recipients
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available and when applicable.
De Minimis Rate Used: N
Rate Explanation: Bridging Access to Care, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. BAC has elected to use the 15% approved provisional negotiated indirect cost rate, which is effective July 1, 2016 until amended. Effective July 1, 2021, the indirect cost rate increased to 18%.
Of the federal expenditures preented in the Schedule, BAC provided no federal awards to sub-recipients.
Title: Subsequent Events
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available and when applicable.
De Minimis Rate Used: N
Rate Explanation: Bridging Access to Care, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. BAC has elected to use the 15% approved provisional negotiated indirect cost rate, which is effective July 1, 2016 until amended. Effective July 1, 2021, the indirect cost rate increased to 18%.
BAC has evaluated subsequent events occurring after the statement of financial position date of June 30, 2024 through December 2, 2024, except for our report on the supplemental schedule of expenditures of federal awards, for which the subsequent events date is March 26, 2025, which is the date these financial statements were available to be issued. No events arose during teh period that would require adjustment or additional disclosure.