Notes to SEFA
Title: Note A: Basis of Presentation
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See notes
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the
expenditures of Migrant Clinicians Network, Inc., (MCN) 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 selected portion of the operations of MCN, it is not intended to, and does not, present the
financial position, changes in net assets, or cash flows for MCN.
Title: Note B: Summary of Significant Accounting Policies
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See notes
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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures
in prior years. MCN elected not to use the de minimis cost rate because it has a negotiated indirect cost rate
in place.