Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bland County Medical Clinic, Inc. under programs of the federal government for the year ended January 31, 2026. The information in this Schedule 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. Because the Schedule presents only a selected portion of the operations of Bland County Medical Clinic, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bland County Medical Clinic, Inc.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, (2) Pass-through entity identifying numbers are presented where available. and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3) The Clinic did not elect the 10% de minimus indirect cost rate because they only request direct costs for reimbursement.
The Clinic does not have any subrecipients for the year ended January 31, 2026.
Federal revenue of $1,800,336 was reported in the financial statements and same agrees with the schedule of federal expenditures above.