Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in SEFSA are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cabarrus Health Alliance has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the
federal and State grant activity of the Cabarrus Health Alliance under the programs of the federal
government and the State of North Carolina for the year ended June 30, 2023. The information in this
SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of
the operations of the Cabarrus Health Alliance, it is not intended to and does not present the financial
position, changes in net position of cash flows of the Cabarrus Health Alliance.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in SEFSA are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cabarrus Health Alliance has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Expenditures reported in SEFSA are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
The Cabarrus Health Alliance has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
10