Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal award activity of Excelsior Wellness and Subsidiaries (Excelsior) under programs of the federal government for the year ended December 31, 2024. The information 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 Excelsior, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Excelsior.
The consolidated schedule of expenditures of federal awards includes the federal grant activity of Excelsior Wellness and its consolidated subsidiaries. Significant intercompany balances and transactions have been eliminated in the consolidated schedule of expenditures of federal awards. The following entity and its associated TIN number is included within the Schedule: 911189908 Excelsior Wellness The accompanying Schedule does not include federal grant activity of the following subsidiaries as these organizations did not expend any federal grant dollars during the year: Excelsior Family Medicine, L.L.C.; Excelsior Holistic Schools, L.L.C.; Excelsior Wellness Center, L.L.C.; Excelsior Integrated Care Center, L.L.C.; and New Developed Nations, L.L.C.
Expenditures reported on the schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient.
Excelsior has elected to use the 10% de minimis cost rate.