Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Note 2: Summary of Significant Accounting Policies With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for PRF Reporting Period 2 and Reporting Period 3.
De Minimis Rate Used: N
Rate Explanation: Note 4: Indirect Cost
Bethany Home Inc. and Related Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of Bethany Home Inc. and Related Organization. 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 (the “Uniform Guidance”). Because the schedule presents only a selected portion of the operations of Bethany Home Inc. and Related Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bethany Home Inc. and Related Organization.
Title: Note 3: Community Facilities Loans and Grants
Accounting Policies: Note 2: Summary of Significant Accounting Policies With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for PRF Reporting Period 2 and Reporting Period 3.
De Minimis Rate Used: N
Rate Explanation: Note 4: Indirect Cost
Bethany Home Inc. and Related Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Bethany Home Inc. and Related Organization has Community Facilities direct loans from the United States Department of Agriculture. The direct loan outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Bethany Home Inc. and Related Organization received no additional payments during the year. The balance of the direct loan outstanding at September 30, 2023, was $22,862,367.
Title: Note 5: Subrecipients
Accounting Policies: Note 2: Summary of Significant Accounting Policies With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for PRF Reporting Period 2 and Reporting Period 3.
De Minimis Rate Used: N
Rate Explanation: Note 4: Indirect Cost
Bethany Home Inc. and Related Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Bethany Home Inc. and Related Organization passed no federal awards through to subrecipients.
Title: Note 6: Interest Earned on Provider Relief Funds
Accounting Policies: Note 2: Summary of Significant Accounting Policies With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for PRF Reporting Period 2 and Reporting Period 3.
De Minimis Rate Used: N
Rate Explanation: Note 4: Indirect Cost
Bethany Home Inc. and Related Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
PRF reported on the Schedule included $25 of interest earned on PRF proceeds and used for allowable purposes.