Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented 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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Nassau Health Care Foundation, Inc. (the "Foundation") for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget ("OMB") Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because this schedule only presents a selected portion of operations of the Foundation, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Foundation. Federal awards received directly from federal agencies (if any), as well as the federal portion of grants passed through non-federal agencies, are included in the schedule.
Title: Non-Cash Awards
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are presented 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.
De Minimis Rate Used: Y
Rate Explanation: The Foundation has elected to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
There were no non-cash awards, such as loans and loan guarantees, surplus property, interest rate subsidies, insurance awards, or food stamps, issued to the Foundation during the year under audit.