Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Guthrie Clinic and Affiliates (the Corporation) for the year ended June 30, 2024. The information in this 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). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net position or cash flows of the Corporation.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
The Corporation has not elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The Federal Emergency Management Agency (FEMA) requires that FEMA has approved a project worksheet and that there have been eligible expenditures incurred for the approved project prior to reporting this program on the Schedule. In accordance with FEMA's guidance, the expenditures reported on the current year Schedule relate to amounts incurred and reported in the consolidated financial statements of the Corporation for the years ended June 30, 2022 and 2021.