Notes to SEFA
Accounting Policies: NOTE A GENERAL The accompanying Schedule of Expenditures of Federal Awards presents the federal grant activity of Fordland Clinic, Inc. (the Clinic). The information in this schedule is presented in accordance with the requirements of the Uniform Guidance.NOTE B BASIS OF ACCOUNTINGThe accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when earned. Expenditures under the accrual basis of accounting are recorded when the liability is incurred.NOTE C RELATIONSHIP TO FEDERAL FINANCIAL REPORTSAmounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.NOTE D INDIRECT COSTSThe Clinic elected not to use the 10% de minimus indirect cost rate.NOTE E SUBRECIPIENTSThe Clinic did not provide federal awards to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.