Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2025 (the Schedule) includes the federal grant activities of Healthfirst PHSP, Inc. (PHSP) and is prepared on the accrual basis of accounting. The information in the 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 (the Uniform Guidance). PHSP did not utilize the de-minimis indirect cost rate provided for by the Uniform Guidance.