Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity of Metropolitan Community Health Services, Inc. under the programs of the federal government and the State of North Carolina for the year ended July 31, 2024. The information in the SEFSA 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 and the State Single Audit Implementation Act. Because the Schedules present only a selected portion of the operations of Metropolitan Community Health Services, Inc., it is not intended to and does not present the financial position, changes in net position or cash flows of Metropolitan Community Health Services, Inc. Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.