Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and NJ Circular Letter 15-08-OMB, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to governmental funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Agency has not previously received a negotiated indirect cost rate nor has it elected to use the 10% de minimis indirect cost rate allowable under Uniform Guidance.
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes the federal and state award activity of CPC Integrated Health, Inc. (the “Agency”) under programs of the federal and state government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) and State of New Jersey, Department of Treasury OMB Policy Circular 15-08-OMB (“NJ Circular 15-08-OMB”). Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Agency.
Title: INDIRECT COSTS
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and NJ Circular Letter 15-08-OMB, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to governmental funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Agency has not previously received a negotiated indirect cost rate nor has it elected to use the 10% de minimis indirect cost rate allowable under Uniform Guidance.
The Agency has not previously received a negotiated indirect cost rate nor has it elected to use the 10% de minimis indirect cost rate allowable under Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and NJ Circular Letter 15-08-OMB, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to governmental funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Agency has not previously received a negotiated indirect cost rate nor has it elected to use the 10% de minimis indirect cost rate allowable under Uniform Guidance.
During the year ended June 30, 2023, the Agency did not pass through any federal awards or state financial assistance to any subrecipients.