Audit 359347

Title: Contingencies Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Medical Technology Enterprise Consortium (“MTEC”) under programs of the United States Government for the year ended December 31, 2024. The information in the 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of MTEC, it is not intended to and does not present the financial position, changes in net assets or cash flows of MTEC. 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. De Minimis Rate Used: N Rate Explanation: MTEC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. MTEC’s federal programs are subject to financial and compliance audits by grantor agencies which, if instances of material noncompliance are found, may result in disallowed expenditures, and affect MTEC’s continued participation in specific programs. That amount, if any, of expenditures which may be disallowed by the grantor agencies cannot be determined at this time. Although, MTEC expects such amounts, if any, to be immaterial.

Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Medical Technology Enterprise Consortium (“MTEC”) under programs of the United States Government for the year ended December 31, 2024. The information in the 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of MTEC, it is not intended to and does not present the financial position, changes in net assets or cash flows of MTEC. 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. De Minimis Rate Used: N Rate Explanation: MTEC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. All amounts provided to subrecipients on the Schedule were provided to Advanced Technology International.