Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of HPM Foundation, Inc. (HPM). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of federal Regulations Part 200 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of HPM, it is not intended to and does not present the financial positions, changes in net assets or cash flows of HPM.
A. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E of Title 2 U.S. Code of Federal Regulation Part 200, wherein certain types of expenditures are not allowable or are limited as to reimbursement.B. Pass-through entity identifying numbers are presented where available and applicable. C. HPM has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The information included in the Schedule may not fully agree with other federal award reports submitted directly to federal granting agencies.
The CFDA numbers included in this Schedule are determined based on the program name, review of grant contract information and the Office of Management and Budget’s Catalogue of Federal Domestic Assistance.
No federal grant dollar has been passed-through to sub-recipient
Revenues and expenses of the Federal Awards programs are included in HPM’s financial statements. The reconciliation between the expenses in the financial statements and expenditures in the Schedule of Expenditures of Federal Awards is as follows:Expenses in the financial statements $ 59,628,305 Add: Capital expenditure in connection with net assets with donor restrictions 205,637 Add : Expenditures of Federal awards incurred from rior periods 65,074 Less: Non Federal Expenses (52,742,535) Total Federal Expenditures $ 7,156,481