Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to use de minimis cost rate.
The accompanying “Schedule of Expenditures of Federal, State, and Local Awards” includes the federal, state and local award activity of Curative Connections, Inc. and Subsidiary. The information in this schedule is presented in accordance with the Uniform Guidance and the State Single Audit Guidelines. Because the schedule presents only a selected portion of the operations of Curative Connections, Inc. and Subsidiary, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Curative Connections, Inc. and Subsidiary.
Title: Oversight Agency
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to use de minimis cost rate.
The Federal oversight agency for Curative Connections, Inc. and Subsidiary is the U.S. Department of Labor.
Title: Nonmonetary Assistance
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to use de minimis cost rate.
Nonmonetary assistance is reported in the schedule of federal and state awards at the fair market value of the commodities received and used.