Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Note 3 – Indirect Costs
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Sea Mar Community Health Center and Subsidiaries (the Organization) under programs of the federal government for the year ended March 31, 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). Because the Schedule presents only a selected portion of the operations of Sea Mar Community Health Center and Subsidiaries, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of Sea Mar Community Health Center and Subsidiaries. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. The following is a reconciliation of the difference for the year ended March 31, 2023: (see notes to SEFA note 1 for included table)
Title: Note 4 – Loans Outstanding
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Note 3 – Indirect Costs
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Sea Mar Community Health Center and Subsidiaries have the following loan balances outstanding at the end of fiscal year 2023: (see notes to SEFA note 4 for included table)
Title: Note 5 – Amounts Provided to Subrecipients
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Note 3 – Indirect Costs
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No amounts were provided to subrecipients under programs of the federal government for the year ended March 31, 2023.