Title: CARES Act Provider Relief Fund
Accounting Policies: This summary of significant accounting policies of La Clinica de Familia, Inc. is presented to assist in understanding La Clinica de Familia, Inc.'s Schedule of Expenditures of Federal Awards. The Schedule and notes are representations of La Clinica de Familia, Inc.'s management, who is responsible for their integrity and objectivity. The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the minimis rate of 10% of modified total direct cost as an indirect cost allocation, as allowed under 2C.F.R.?200.414.
La Clinica received Provider Relief Fund payments totaling $1,186,250 between April 10, 2020 and June 30, 2020 (Period 1). The 2021 Compliance Supplement issued by the U.S. Office of Management and Budget requires that Period 1 Provider Relief Fund payments be reported on the Schedule of Expenditures of Federal Awards for fiscal years ending between June 30, 2021 and June 29, 2022. Accordingly, the accompanying SEFA for the year ended May 31, 2022 includes Period 1 Provider Relief Fund payments of $1,186,250. During the year ended May 31, 2022, La Clinica received Provider Relief Fund payments applicable to Period 4 reporting, as categorized by the 2021 Compliance Supplement. The deadline for the expenditure of such funds has been established as December 31, 2022. Guidance for reporting Period 4 Provider Relief Fund payments was issued in the 2022 Compliance Supplement, which requires such funds to be included in SEFAs for years ended between December 31, 2022 and June 29, 2023. Accordingly, a total of $168,167 Period 4 Provider Relief Fund payments have not been included in the accompanying SEFA for the year ended May 31, 2022. A reconciliation of total federal grant expenditures per SEFA to total federal grant income reported in the Consolidated Statement of Activities for the year ended May 31, 2022 is as follows: Total federal expenditure per SEFA, $13,409,88. Add: Period 4 PRF, $168,167. Less: Period 1 PRF $(1,186,250). Total federal grant income per Consolidated Statement of Activities, $12,391,801.
Title: Subrecipients
Accounting Policies: This summary of significant accounting policies of La Clinica de Familia, Inc. is presented to assist in understanding La Clinica de Familia, Inc.'s Schedule of Expenditures of Federal Awards. The Schedule and notes are representations of La Clinica de Familia, Inc.'s management, who is responsible for their integrity and objectivity. The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the minimis rate of 10% of modified total direct cost as an indirect cost allocation, as allowed under 2C.F.R.?200.414.
There were no subrecipients of the federal awards received by La Clinica de Familia, Inc. for the year ended May 31, 2022.
Title: Affiliate
Accounting Policies: This summary of significant accounting policies of La Clinica de Familia, Inc. is presented to assist in understanding La Clinica de Familia, Inc.'s Schedule of Expenditures of Federal Awards. The Schedule and notes are representations of La Clinica de Familia, Inc.'s management, who is responsible for their integrity and objectivity. The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting. The information in this schedule is presented in accordance with the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: La Clinica de Familia, Inc. has not elected to use the minimis rate of 10% of modified total direct cost as an indirect cost allocation, as allowed under 2C.F.R.?200.414.
La Clinicas Affiliate, La Clinica de Familia Title Holding Corporation, did not receive any federal awards for the year ended May 31, 2022.