Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Mountain Comprehensive Care Center, Inc. (the “Corporation”) 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 (“CFR”) 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 assets, or cash flows of the Corporation. LBMC, PC has audited the consolidated financial statements of Mountain Comprehensive Care Center, Inc. and Affiliate (the “Organization”) as of and for the year ended June 30, 2025. The Organization consists of two entities, discussed in Note A to the consolidated financial statements. Our audit of compliance, on pages 36 through 38, only includes the federal grant activity of Mountain Comprehensive Care Center, Inc. because the affiliated entity does not receive or expend federal awards in excess of reporting thresholds.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, and/or OMB Circular A-122 Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
In accordance with the Uniform Guidance (2 CFR §200.502(b)), federal loan and loan guarantee programs are reported in the Schedule of Expenditures of Federal Awards based on the outstanding loan balance at the beginning of the fiscal year, rather than the amount of loans expended or received during the fiscal year. For the year ended June 30, 2025, the following loan balance is outstanding and is reported in the consolidated financial statements: