Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: GENERALThe accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) presents activity of all federal and state awards programs of OFP. All federal and state awards with current year activity, received directly from federal and state agencies, as well as federal and state awards passed through other government agencies, are included in the Schedule.BASIS OF ACCOUNTINGThe Schedule is presented using the accrual basis of accounting, as described in Note 2 to OFPs basic financial statements.COST ALLOCATION PLANOFP has a plan to allocate to program activities and cost centers costs that are not directly assignable to a specific program. The plan includes indirect administrative costs that are allocated from the School, a related party providing certain management services to OFP. This plan is described in Note 2 to OFPs basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal and state expenditures are reported as expenses in OFPs basic financial statements. Such expenditures only include expenses related to OFPs ICF program at the Wynnewood location.
Title: RELATIONSHIP TO FEDERAL AND STATE FINANCIAL REPORTS
Accounting Policies: GENERALThe accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) presents activity of all federal and state awards programs of OFP. All federal and state awards with current year activity, received directly from federal and state agencies, as well as federal and state awards passed through other government agencies, are included in the Schedule.BASIS OF ACCOUNTINGThe Schedule is presented using the accrual basis of accounting, as described in Note 2 to OFPs basic financial statements.COST ALLOCATION PLANOFP has a plan to allocate to program activities and cost centers costs that are not directly assignable to a specific program. The plan includes indirect administrative costs that are allocated from the School, a related party providing certain management services to OFP. This plan is described in Note 2 to OFPs basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying Schedule agree, in all material respects, with amounts reported in related financial reports to funding sources.
Title: DEFINITION OF MAJOR FEDERAL OR STATE AWARDS PROGRAMS
Accounting Policies: GENERALThe accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) presents activity of all federal and state awards programs of OFP. All federal and state awards with current year activity, received directly from federal and state agencies, as well as federal and state awards passed through other government agencies, are included in the Schedule.BASIS OF ACCOUNTINGThe Schedule is presented using the accrual basis of accounting, as described in Note 2 to OFPs basic financial statements.COST ALLOCATION PLANOFP has a plan to allocate to program activities and cost centers costs that are not directly assignable to a specific program. The plan includes indirect administrative costs that are allocated from the School, a related party providing certain management services to OFP. This plan is described in Note 2 to OFPs basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards defines a major program as an individual award or a number of awards in a category of Federal assistance or support for which total expenditures are $750,000 or more. OFP has one major federal program, Medical Assistance (Medicaid, Title XIX), Assistance Listing Number 93.778, which also receives a state portion of funding.
Title: FEDERAL ASSISTANCE LISTING NUMBER
Accounting Policies: GENERALThe accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) presents activity of all federal and state awards programs of OFP. All federal and state awards with current year activity, received directly from federal and state agencies, as well as federal and state awards passed through other government agencies, are included in the Schedule.BASIS OF ACCOUNTINGThe Schedule is presented using the accrual basis of accounting, as described in Note 2 to OFPs basic financial statements.COST ALLOCATION PLANOFP has a plan to allocate to program activities and cost centers costs that are not directly assignable to a specific program. The plan includes indirect administrative costs that are allocated from the School, a related party providing certain management services to OFP. This plan is described in Note 2 to OFPs basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Assistance Listing Number included in the Schedule were determined based on the program name, review of grant contract information, and the Office of Management and Budgets Catalogue of Federal Domestic Assistance.