Title: Note C Contingency
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes theFederal grant activity of the Concept Health Systems, Inc. under programs of the FederalGovernment, for the year ended June 30, 2022. The information in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federalawards, Audits of States, Local Governments, and Non-Profit Organizations. Because thisschedule presents only a selected portion of the operation of the Concept Health Systems Inc., itis not intended to and does not present the financial position, changes in net assets, or cash flowsof the Concept Health Systems, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Grant and contract revenue amount received are subject to audit and adjustments. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for the reimbursement to the grantor / contract agencies would become a liability for Concept Health Systems Inc.
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes theFederal grant activity of the Concept Health Systems, Inc. under programs of the FederalGovernment, for the year ended June 30, 2022. The information in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federalawards, Audits of States, Local Governments, and Non-Profit Organizations. Because thisschedule presents only a selected portion of the operation of the Concept Health Systems Inc., itis not intended to and does not present the financial position, changes in net assets, or cash flowsof the Concept Health Systems, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of the Concept Health Systems, Inc. under programs of the Federal Government, for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal awards, Audits of States, Local Governments, and Non-Profit Organizations. Because this schedule presents only a selected portion of the operation of the Concept Health Systems Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Concept Health Systems, Inc.