Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (Schedule) includes the federal and state grant activity of Adagio Health Inc. (Organization) under programs of the federal and state government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 the Organization, it is not intended to, and does not present, the financial position, activities or cash flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Organization has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.