Title: Note 1: General
Accounting Policies: Note 2: Basis of Accounting
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. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: Note 3: Indirect Cost Rate
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and
state grant activity of The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic under programs
of the federal and state governments for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”)
and the State of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of
the operations of The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic, it is not intended to
and does not present the financial position, changes in net assets or cash flows of The Lakes Community Health
Center, Inc. dba NorthLakes Community Clinic.
Title: Note 2: Basis of Accounting
Accounting Policies: Note 2: Basis of Accounting
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. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: Note 3: Indirect Cost Rate
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
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. Pass-through entity identifying numbers are presented
where available.
Title: Note 3: Indirect Cost Rate
Accounting Policies: Note 2: Basis of Accounting
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. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: Note 3: Indirect Cost Rate
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4: USDA Loans and Loan Guarantees - Assistance Listing Number 10.766
Accounting Policies: Note 2: Basis of Accounting
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. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: Note 3: Indirect Cost Rate
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has a direct loan from and loans
guaranteed by the U.S. Department of Agriculture under the community facility loans and grants program.
Amounts reported in the schedule of expenditures of federal and state awards are the balances at the beginning
of the year. Outstanding balance at December 31, 2024 were as follows:
Loan Balance at beginning of year Balance at end of year
Direct loan $4,897,989 $4,829,731
Guaranteed loan $1,010,511 $968,153
Guaranteed loan $1,730,172 $1,686,243