Notes to SEFA
Accounting Policies: Note 1.Basis of presentationThe accompanying schedule of expenditures of Federal awards includes the Federal award activity of Vermont HealthcareInformation Technology Education Center, Inc. (the "Organization"), under programs of the Federal Government for the yearended December 31, 2022 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because theSchedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present thefinancial position, changes in net assets or cash flows of the Organization.Note 2.Summary of significant accounting policies(1)Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profitOrganizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.(2)The Organization has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.