Notes to SEFA
The accompanying schedule of expenditure of federal awards (the Schedule) includes the federal award activity of Grand Lake Mental Health Center, Inc. (“the Agency”) under programs of the federal governments for the year ended June 30, 2025. The information 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 the Agency, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Agency.
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 allowable or are limited as toreimbursement. The Agency’s summary of significant accounting policies is presented in Note A in the Agency’s consolidated financial statements. No federal financial assistance has been provided to a subrecipient.
The Agency has not elected to use the 10% de minimis cost rate.