Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Clinic under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Clinic, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Clinic.2.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Clinic has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.3.There are no federal loan programs administered directly by the Clinic.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.