Notes to SEFA
Title: GENERAL
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Oak Orchard has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) summarizes all federal award activity of Oak Orchard Community Health Center, Inc. (Oak Orchard) under programs of the federal government for the year ended December 31, 2024. 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 (Uniform Guidance). Because the Schedule presents only a financial position, change in net assets, or cash flows of Oak Orchard.
Title: BASIS OF ACCOUNTING
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Oak Orchard has elected not to use the 10% de minimis indirect cost rate as 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.
Title: INDIRECT COST RATE
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Oak Orchard has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Oak Orchard has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NONMONETARY ASSISTANCE
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Oak Orchard has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair value of the WIC checks received. The total federal share of food instruments distributed by Oak Orchard amounted to $2,040,887.
Title: USDA LOAN
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Oak Orchard has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Oak Orchard has a loan payable to the U.S. Department of Agriculture, which is included in the federal expenditures presented in the Schedule.