Audit 54303

Accounting Policies: 18NOTE 1 BASIS OF PRESENTATIONThe schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of MHA Health, Research, and Education Foundation, Inc. (the Foundation) underprograms of the federal government for the year ended June 30, 2022.The information in this Schedule has classified all awards into major and nonmajorprograms in accordance with the requirements of Title 2 U.S. Code of FederalRegulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Major programs include thefollowing:U.S. Department of Health and Human Services Hospital Preparedness GrantU.S. Department of Health and Human Services Pass through Mississippi Department ofHealth - Hospital Preparedness GrantFiscal Period Audited: Single audit testing procedures were performed for programtransactions that occurred during the fiscal year ended June 30, 2022.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of Accounting: The accompanying Schedule includes the federal grant activity of theFoundation and is presented on the accrual basis of accounting. The information in thisSchedule is presented in accordance with the cost principles requirements of the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Therefore, some amounts presented in this schedule may differ from theamounts presented in, or used in the preparation of, the basic financial statements. Theamounts presented in this Schedule have been reconciled to the Foundations basicfinancial statementsCost Allocation: The Foundation has elected to use the 10% de minimis indirect cost ratewhen applicable to federal grants.Program Costs/Matching Contributions: The amounts shown as current year expensesrepresent the federal grant portion of the program costs. Entire program costs, includingthe Foundations portion, may be more than shown.NOTE 3 OTHER NONCASH ASSISTANCEThe Foundation did not receive federal noncash assistance during the year ended June 30,2022.NOTE 4 AMOUNTS OF FEDERAL INSURANCE IN EFFECT DURING THE YEARNo federal insurance was received by the Foundation during the year ended June 30, 2022. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate.