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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: MyCare Health Center has elected not to use the 15 percent de minimis indirect cost rates as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of MyCare Health Center 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 MyCare Health Center, it is not intended to and does not present the financial position, results of its operations, or cash flows of MyCare Health Center.
Title: Subrecipients
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: MyCare Health Center has elected not to use the 15 percent de minimis indirect cost rates as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.
Title: Reconciliation to the Basic Financial Statements
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: MyCare Health Center has elected not to use the 15 percent de minimis indirect cost rates as allowed under the Uniform Guidance.
Federal revenues are recorded as federal grant revenue on the Statement of Operations.