Audit 354983

Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activities of Midland Community Healthcare Services, Inc. under programs of the federal government for the year ended December 31, 2024. The information in this schedule is 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 (the Uniform Guidance). Because the schedule presents only a portion of the operations, it is not intended to, and does not present the financial position, changes in net assets or cash flows of Midland Community Healthcare Services, Inc.. NOTE 2 - 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 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with the grantor agencies because of accruals made in the schedule which will be included in future reports filed with those agencies. NOTE 4 - CONTINGENT LIABILITIES The Organization participates in a number of federally assisted programs. These programs are subject to financial and compliance audits by the grantors or their representatives. The purpose of these audits is to ensure compliance with conditions relating to granting of funds and other reimbursement regulations. These programs have compliance requirements, and should federal or state auditors discover areas of material noncompliance, those funds may be subject to refund if so determined by administrative audit review. De Minimis Rate Used: N Rate Explanation: Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.