Title: Note A - Basis of Presentation
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards , wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (3) The Clinic did not elect the 10% de minimus indirect cost rate becuase they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for reimbursement.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
Bland County Medical Clinic, Inc. under programs of the federal government for the year ended January 31, 2025.
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, Cost Principles, and Audit Requirements for Federal
Awards . Because the Schedule presents only a selected portion of the operations of Bland County Medical Clinic,
Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bland
County Medical Clinic, Inc.
Title: Note B - Summary of Significant Accounting Policies
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards , wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (3) The Clinic did not elect the 10% de minimus indirect cost rate becuase they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for reimbursement.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards , wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
(3) The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for
reimbursement.
Title: Note C - Subrecipients
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards , wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (3) The Clinic did not elect the 10% de minimus indirect cost rate becuase they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for reimbursement.
The Clinic does not have any subrecipients for the year ended January 31, 2025.
Title: Note D - Relationship to the Financial Statements:
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards , wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (3) The Clinic did not elect the 10% de minimus indirect cost rate becuase they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for reimbursement.
Federal revenue of $1,841,291 was reported in the financial statements and same agrees with the schedule of federal
expenditures above.