Title: Basis of presentation
Accounting Policies: The expenditure reported on the Schedule is reported on the accrual basis of accounting. Such
expenditure is recognized following, as applicable, either the cost principles in OMB Circular A-
122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. The amount presented in the Schedule may differ from amounts presented in, or
used in preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Naamans Creek Care, Inc., Project No. 034-22128, 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 (the “Schedule”) includes the
federal award activity of Naamans Creek Care, Inc., Project No. 034-22128, under all federal
award programs 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”). Because the Schedule presents only a selected portion of the
operations of Naamans Creek Care, Inc., Project No. 034-22128, it is not intended to, and does
not, present the financial position, changes in net assets, or cash flows of Naamans Creek Care,
Inc., Project No. 034-22128.
Title: Federal loan guarantee program
Accounting Policies: The expenditure reported on the Schedule is reported on the accrual basis of accounting. Such
expenditure is recognized following, as applicable, either the cost principles in OMB Circular A-
122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. The amount presented in the Schedule may differ from amounts presented in, or
used in preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Naamans Creek Care, Inc., Project No. 034-22128, has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan guarantee program listed subsequently is administered directly by Naamans
Creek Care, Inc., Project No. 034-22128 and balances and transactions relating to this program
are included in Naamans Creek Care, Inc., Project No. 034-22128’s basic financial statements.
The balance of the loan outstanding as of June 30, 2023 consists of: See the Notes to the SEFA for chart/table