Title: BASIS OF ACCOUNTING
Accounting Policies: BASIS OF ACCOUNTING, PROGRAM COSTS, PROGRAM INCOME, INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Clinic has elected not 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”) presents the
activity of all Federal Award Programs of Nuestra Clinica Del Valle, Inc. (a nonprofit
organization.). The Clinic uses the accrual basis of accounting to prepare its financial statements,
and the Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting
as the financial statements. All of the information in the 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”). Therefore, some amounts may differ from amounts presented in, or used
in the preparation of the basic financial statements.
Title: PROGRAM COSTS
Accounting Policies: BASIS OF ACCOUNTING, PROGRAM COSTS, PROGRAM INCOME, INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Clinic has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the
program costs. Entire program costs, including the portion that Nuestra Clinica del Valle, Inc.
covers on its own, are more than shown. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement.
Title: PROGRAM INCOME
Accounting Policies: BASIS OF ACCOUNTING, PROGRAM COSTS, PROGRAM INCOME, INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Clinic has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The Clinic reports program income based on the requirements presented in 45 CFR 75.307. The
net program income recognized as of December 31, 2024, is $9,993,987.
Title: INDIRECT COST RATE
Accounting Policies: BASIS OF ACCOUNTING, PROGRAM COSTS, PROGRAM INCOME, INDIRECT COST RATE
De Minimis Rate Used: N
Rate Explanation: The Clinic has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The Clinic has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.