Notes to SEFA
Title: Note 1 - General
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs of Enterprise Valley Medical Clinic (The Clinic). All federal financial awards received directly from federal agencies as well as federal financial awards passed through from other government agencies are included on the schedule. The schedule shows the federal awards expended on the accrual basis of accounting as shown on the statement of activities for the year ended March 31, 2025.
De Minimis Rate Used: N
Rate Explanation: Enterprise Valley Medical Clinic did not elect to use the 10% de minimis indirect cost rate.
The schedule of expenditures of federal awards presents the activity of all federal award programs of Enterprise Valley Medical Clinic (The Clinic). All federal financial awards received directly from federal agencies as well as federal financial awards passed through from other government agencies are included on the schedule. The schedule shows the federal awards expended on the accrual basis of accounting as shown on the statement of activities for the year ended March 31, 2025.
Title: Note 2 - Indirect Cost Rate
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs of Enterprise Valley Medical Clinic (The Clinic). All federal financial awards received directly from federal agencies as well as federal financial awards passed through from other government agencies are included on the schedule. The schedule shows the federal awards expended on the accrual basis of accounting as shown on the statement of activities for the year ended March 31, 2025.
De Minimis Rate Used: N
Rate Explanation: Enterprise Valley Medical Clinic did not elect to use the 10% de minimis indirect cost rate.
Enterprise Valley Medical Clinic did not elect to use the 10% de minimis indirect cost rate.
Title: Note 3 - Reconciliation of Federal Awards
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs of Enterprise Valley Medical Clinic (The Clinic). All federal financial awards received directly from federal agencies as well as federal financial awards passed through from other government agencies are included on the schedule. The schedule shows the federal awards expended on the accrual basis of accounting as shown on the statement of activities for the year ended March 31, 2025.
De Minimis Rate Used: N
Rate Explanation: Enterprise Valley Medical Clinic did not elect to use the 10% de minimis indirect cost rate.
Federal awards revenue for the year ended March 31, 2025 is reported in the Clinic’s statement of
activities as follows:
Grant revenues, D.O.H.H. $ 1,122,428
Grants and other donations 8,284
$ 1,133,712