Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Atrium Wake Forest Baptist (“AHWFB”) during the year ended December 31, 2024. The information on the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the basic financial statements.
The expenditures on the Schedule are reported on the accrual basis of accounting when AHWFB has met the qualifications for the incurred expenses according to the grant requirements.
AHWFB has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.