Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Distinctive Health Solutions, Inc. and Subsidiary under programs of the federal government for the year ended June 30, 2025. 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 Distinctive Health Solutions, Inc. and Subsidiary, it is not intended to and does not present the financial position or changes in net assets of Distinctive Health Solutions, Inc. and Subsidiary.
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.
Distinctive Health Solutions, Inc. and Subsidiary did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Loan programs reported on the Schedule include new loans made during the audit period and the outstanding balance of existing loans with continuing compliance requirements at the beginning of the audit period. No new loans were made during the audit period. The outstanding balance of loans reported on the Schedule is $3,176,866 as of June 30, 2025.