Notes to SEFA
Title: Basis of Presentation
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 toreimbursement.
De Minimis Rate Used: N
Rate Explanation: ReGenesis Health Care, Inc. 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 awards (the Schedule) includes the federal grant activity for ReGenesis Health Care, Inc., under programs of the federal government for the year ended June 30, 2022. 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 ReGenesis Health Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of ReGenesis Health Care, Inc.
Title: Contingencies
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 toreimbursement.
De Minimis Rate Used: N
Rate Explanation: ReGenesis Health Care, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
ReGenesis Health Care, Inc. is subject to audit examination by the funding sources of grants to determine its compliance with certain grant provisions. In the event that expenditures could be disallowed through the audit, repayment of such disallowances could be required.