Notes to SEFA
Accounting Policies: NOTE A BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of LivWell Community Health Services, Inc. under programs of the federal government for the year ended June 30, 2022. 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, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of operations of LivWell, it is not intended to and does not present the financial position, changes in net assets, or cash flows of LivWell. NOTE B SUMMARY OF SIGNIFICANT 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. NOTE C PASS THROUGH OF FEDERAL FUNDS: No federal awards were passed through to sub-recipients. NOTE D INDIRECT COST RATE: LivWell has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.