Notes to SEFA
Title: NOTE 1 - Basis of Presentation
Accounting Policies: Expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: Negotiated Indirect Cost Rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Fredericksburg Area Health and Support Services, Inc. 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 operation of Fredericksburg Area Health and Support Services, Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Fredericksburg Area Health and Support Services, Inc. as a whole.
Title: NOTE 2 - Summary of Significant Accounting Polices
Accounting Policies: Expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: Negotiated Indirect Cost Rate
Expenditures of federal awards 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.
Title: NOTE 3 - Subrecipients
Accounting Policies: Expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: Negotiated Indirect Cost Rate
N/A
Title: NOTE 4 - Indirect Cost Rate
Accounting Policies: Expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: Negotiated Indirect Cost Rate
Fredericksburg Area Health and Support Services, Inc. has elected not to use the 10% de minimis indirect cost rate.