Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the “Schedules”) include the federal and state award activity of Ocean Health Initiatives, Inc. under programs of the federal and state government for the year ended December 31, 2025. The information in the schedules 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”) and the State of New Jersey Circular Letter 25-12-OMB. Because the Schedules present only a selected portion of the operations of Ocean Health Initiatives, Inc., they are not intended and do not present the financial position, changes in net assets, or cash flows of Ocean Health Initiatives, Inc.
The accompanying schedule of expenditures of federal awards present the activities in all federal awards of Ocean Health Initiatives, Inc. All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or nonprofit organizations are included on the schedule.
Ocean Health Initiatives, Inc. contracted with the State of New Jersey Department of Health to provide health and medical services to the uninsured population under the Preventive and Primary Care Program. This Letter of Agreement pays Ocean Health Initiatives, Inc. a fixed amount per visit regardless of the actual costs incurred. During the year ended December 31, 2025, the amount earned and recognized as revenue under this Letter of Agreement was $937,077.
The Organization provided no federal or state awards to subrecipients for the year ended December 31, 2025.