Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient during the year ended July 31, 2023.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis cost rate and follows the indirect allocation rate defined applicable to each grant agreement.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Hilltop Health Services Corporation (Hilltop, the Organization) under programs of the federal government for the year ended July 31, 2023. The information 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). Because the Schedule presents only a selected portion of the operations of Hilltop, it is not intended to and does not present the financial positions, changes in net assets, or cash flows of Hilltop.