Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Accounting and Indirect Cost Rate
De Minimis Rate Used: Y
Rate Explanation: Uses 10% de minimis rate when applicable.
The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activities of Hamakua Health Center, Inc. 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 Hamakua Health Center, Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Hamakua Health Center, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: Basis of Accounting and Indirect Cost Rate
De Minimis Rate Used: Y
Rate Explanation: Uses 10% de minimis rate when applicable.
Basis of Accounting: Expenditures reported on this Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement
Indirect Cost Rate: The Center has not negotiated an indirect cost rate and therefore, uses the 10% de minimis rate allowed when applicable.
Title: Subrecipient Pass Through Awards
Accounting Policies: Basis of Accounting and Indirect Cost Rate
De Minimis Rate Used: Y
Rate Explanation: Uses 10% de minimis rate when applicable.
No Federal awards were passed through to subrecipients.
Title: Noncash Assistance
Accounting Policies: Basis of Accounting and Indirect Cost Rate
De Minimis Rate Used: Y
Rate Explanation: Uses 10% de minimis rate when applicable.
As mentioned in Note 2, the value of the federal awards expended in the form of noncash internet utility services from the Universal Service Administrative Company (USAC), is valued at the time the credit is received and totaled $40,517 for the year ending December 31, 2024.