Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic under programs of the federal and state governments for the year ended December 31, 2025. The information in this Schedule is presented in accordance with 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”) and the State of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has elected not to use the federal de minimis indirect cost rate allowed under the Uniform Guidance.
The Lakes Community Health Center, Inc. dba NorthLakes Community Clinic has a direct loan from and loans guaranteed by the U.S. Department of Agriculture under the community facility loans and grants program. Amounts reported in the schedule of expenditures of federal and state awards are the balances at the beginning of the year. Outstanding balance at December 31, 2025 were as follows: Loan Balance at beginning of year Balance at end of year Direct loan $4,829,731 $4,754,585 Guaranteed loan $968,153 $919,417 Guaranteed loan $1,686,243 $1,634,698