Audit 47739

Accounting Policies: This summary of significant accounting policies of Project Vida Health Center is presented to assist in understanding Project Vida Health Center's Schedule of Expenditures of Federal and State Awards. The Schedule and notes are representations of Project Vida Health Center's management, who is responsible for their integrity and objectivity. Basis of Accounting and Presentation. The Schedule of Expenditures of Federal and State Awards is prepared using the accrual basis of accounting. The information in the schedule is presented in accordance with the Uniform Guidance, UGMS, and the State of Texas Single Audit Circular; therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Indirect Costs Expenditures of federal and state awards may include a portion of costs associated with general and administrative activities, which are allocated to federal and state assistance programs under negotiated formulas, commonly referred to as indirect cost rates and federally approved cost allocation plans. The Organizations only indirect cost expenses charged to federal and state awards consist of administrative salaries and administrative fees, which are allocated to various programs based on the percentage of total patients or clients served under each program. In the absence of any program participants, indirect expenses are charged based on actual time and effort records. The allocation methods have been approved by each awarding agency. The Organization has not negotiated an indirect rate with its federal cognizant agency and has elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2 CFR ?200.414 when allowable by federal and state grantors. Sub Recipients There were no sub-recipients of the Federal and State Awards received by Project Vida Health Center for the year ended August 31, 2022. De Minimis Rate Used: Y Rate Explanation: The Organization has not negotiated an indirect rate with its federal cognizant agency and has elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2 CFR ?200.414 when allowable by federal and state grantors.