Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards of Clover Inc. and Affiliates (the “Organization”). The Organization’s reporting entity is defined in Note 1 to the financial statements for the year ended June 30, 2025. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards passed-through other government agencies.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 2 to the Organization’s financial statements for the year ended June 30, 2025.
The Organization has elected not to use the de minimus indirect cost rate as allowed under Uniform Guidance which was 10% until October 1, 2024 when it was increased to 15%.