Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Anderson Healthcare’s (the Organization) and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with the applicable 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Anderson Healthcare’s (the Organization) and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with the applicable 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE 2 SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Anderson Healthcare’s (the Organization) and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with the applicable 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
No funds were identified as having been provided to subrecipients by the Organization and accordingly, no funds identified in the Schedule are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance. The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
Title: NOTE 3 RECONCILIATION OF SEFA AND FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Anderson Healthcare’s (the Organization) and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with the applicable 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The amount in the accompanying Schedule represents the beginning loan balances during the year under audit. The outstanding loan balance at December 31, 2024 was $7,011,938.