Notes to SEFA
Title: Note A--Basis of Presentation
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 Uniform Guidance and/or OMB
Circular A‐122 Cost Principles for Non‐profit Organizations, wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected 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”) includes the federal
award activity of the Foundation for a Healthy Kentucky, Inc. (the “Foundation”). The information in this
Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(“CFR”) 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 the Foundation, it is not intended to and does not present the financial position, changes
in net assets, or cash flows of Foundation.
We have audited the financial statements of the Foundation as of and for the year ended December 31,
2024.
Title: Note B--Summary of Signficant Accounting Policies
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 Uniform Guidance and/or OMB
Circular A‐122 Cost Principles for Non‐profit Organizations, wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected 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 Uniform Guidance and/or OMB
Circular A‐122 Cost Principles for Non‐profit Organizations, wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
Title: Note C--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 Uniform Guidance and/or OMB
Circular A‐122 Cost Principles for Non‐profit Organizations, wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
The Foundation has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.