Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Owensville Primary Care, Inc. has not elected to utilize the ten percent (10%) de minimis cost rate, as provided under Title 1 U.S. Code of Federal Regulations Part 200, lJniform Administratiae Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Owensville Primary Care, Inc. under programs of the federal govemment for the year ended June 30, 2023.The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, l.lniform Administratiue Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Owensville Primary Care, Inc., it is not intended to and does not present the financial position, changes in net assets for cash flows of Owensville Primary Care, Inc.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Owensville Primary Care, Inc. has not elected to utilize the ten percent (10%) de minimis cost rate, as provided under Title 1 U.S. Code of Federal Regulations Part 200, lJniform Administratiae Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
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.
Title: Note 3 - Indirect Costs
Accounting Policies: 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Owensville Primary Care, Inc. has not elected to utilize the ten percent (10%) de minimis cost rate, as provided under Title 1 U.S. Code of Federal Regulations Part 200, lJniform Administratiae Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
Owensville Primary Care, Inc. has not elected to utilize the ten percent (10%) de minimis cost rate, as provided under Title 1 U.S. Code of Federal Regulations Part 200, lJniform Administratiae Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).