Notes to SEFA
The accompanying schedule of expenditures of federal, state and city awards presents the activities in all federal, state and city award programs of Public Health Management Corporation. All financial assistance received directly from federal agencies, as well as financial awards passed through other governmental and nonprofit agencies, are presented on the schedule of expenditures of federal, state and city awards. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
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 and the City of Philadelphia Subrecipient Audit Guide, wherein certain types of expenditures are not allowable or are limited to reimbursement. PHMC has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Federal, state and city awards expenditures are reported on the statements of activities as expenses. Amounts required to be reported on the schedule of expenditures of federal, state and city awards may differ from expenses reported in the basic financial statements due to presentation differences for nongrant sources which provided support for the program.