Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all Federal Award Programs of Nuestra Clinica Del Valle, Inc. (a nonprofit organization). The Clinic uses the accrual basis of accounting to prepare its financial statements, and the Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the financial statements. All information in the 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”). Therefore, some amounts may differ from amounts presented in or used in the preparation of the basic financial statements.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the portion that Nuestra Clinica del Valle, Inc. covers on its own, are more than shown. 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, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Clinic reports program income in accordance with 2 CFR 200.307 and applicable HHS award terms. Net program income recognized for the year ended December 31, 2025, was $10,234,497.
The Clinic has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.