Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, whereby revenues are recognized when performance obligations are met and expenses are recorded as liabilities when incurred. 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, Audit Requirements for Federal Awards and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as 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 Wellpoint Care Network, Inc. and Subsidiary under programs of the federal and state government for the year ended December 31, 2024. The information in this schedule is presented in accordance with 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 Guidelines.
Title: Note C - Non-Cash Assistance, Loans, and Insurance
Accounting Policies: The accompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, whereby revenues are recognized when performance obligations are met and expenses are recorded as liabilities when incurred. 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, Audit Requirements for Federal Awards and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Wellpoint Care Network, Inc. and Subsidiary did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended December 31, 2024.
Title: Note D - Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, whereby revenues are recognized when performance obligations are met and expenses are recorded as liabilities when incurred. 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, Audit Requirements for Federal Awards and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Wellpoint Care Network, Inc. and Subsidiary did not provide federal awards to subrecipients during the year ended December 31, 2024.