Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of Memphis Health Center, Inc. under programs of the federalgovernment for the year ended May 31, 2025 . The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Memphis Health Center, Inc. , it is not intended to and does not present the financial position,changes in net position, or cash flows of Memphis Health Center, Inc.
Expenditures reported on the Schedule are reported on the basis of accounting. Suchexpenditures 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.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.
Memphis Health Center, Inc. has elected not to use the 10% de minimis indirect cost rate asallowed under the Uniform Guidance