Notes to SEFA
Title: Note 5: USDA Community Facilities Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accruals 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: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization had an outstanding loan with Western Alliance of $12,649,577 and $1,343,094 as of June 30, 2022 and 2021, respectively. The federal expenditures reported on the schedule of expenditures of federal awards includes the beginning balance of $1,343,094 and the draws made during the year which include both construction loan funds of $11,306,483 which will be refinanced with the USDA loan during the year ended June30, 2023.
Title: Note 4: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accruals 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: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization passed no federal awards through to subrecipients.
Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accruals 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: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the El Dorado County Community Health Center (the Organization) under programs of the federal government for the year ended June 30, 2022. The information in the 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.