Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: The Agency has a federally approved rate of 31.61%
he accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Organization under programs of the federal government for the year ended December 31, 2023. 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 (Unifo1m Guidance). Because the Schedule presents only a selected portion of the operations of Organization, it is not intended to and does not present the financial position, changes in net assets or cash flow of the South Side Health Center, Inc.
Title: Note 2 -Summary of Significant Accounting Policies
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: The Agency has a federally approved rate of 31.61%
Expenditures reported on the Schedule are reported on the accrual basis of accounting. The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. There were no federal awards expended for non-cash assistance, insurance or any loans or loan guarantees outstanding at year-end. Of the federal expenditures presented in the Schedule, the Organization did not provide any amounts to subrecipients.