Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awards activities of Corporación de Salud Asegurada por Nuestra Organización Solidaria, Inc. (the Organization) 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 the 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 Corporación de Salud Asegurada por Nuestra Organización Solidaria, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Corporación de Salud Asegurada por Nuestra Organización Solidaria, Inc.
Expenditures reported in 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 allowed or are limited as to reimbursement. Negative amounts shown in the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Additional policies are the following: (a) The financial transactions are recorded by the Organization in accordance with the terms and conditions of the grants, which are consistent with accounting principles generally accepted in the United States of America. (b) Expenditures reported on the Schedule of Expenditures of Federal Awards are recognized on the accrual basis of accounting. Expenditures are recognized in the period in which the related liability is incurred, provided the amounts are measurable and allowable.
The assistance listing numbers included in the Schedule are determined based on the program’s name. The assistance listing number is a program identification, whose first two digits identify the federal department or agency that administers the program, and the last three numbers are assigned by numerical sequence.
Major programs are identified in the Summary of Audits Results Section of the Schedules of Findings and Questioned Cost.
The Organization does not have a federally negotiated indirect cost rate applicable to the programs and there is no election to the 10 percent de minims cost rate as defined in 2 CFR 200.414.
The dollar threshold for Type A and Type B programs amounted to $750,000.
The Organization’s financial statements include revenues and expenses related to federal award programs. A reconciliation of expenses reported in the financial statements to expenditures reported in the Schedule of Expenditures of Federal Awards is presented below: