Notes to SEFA
Title: NOTE 1 - 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, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Oak Hill has not recovered its indirect costs using the 10% de minimis indirect cost rate as provided under the Uniform Guidance. Pass-through entity identifying numbers are presented when available. The amount presented on the schedule for the COVID-19-Provider Relief Fund (PRF), Assistance Listing No. 93.498, for the year ended June 30, 2022 includes $442,175 of PRF funds received from the U.S. Department of Health and Human Services (HHS) between July 1, 2020 and December 31, 2020. In accordance with guidance from HHS, these amounts are presented as Period 2 in the HHS PRF Reporting Portal. The $442,175 was recognized as operating revenue in Oak Hill's consolidated financial statements for the year ended June 30, 2021.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of The Connecticut Institute for the Blind and Subsidiaries d/b/a Oak Hill (Oak Hill) 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), with the exception of the COVID-19-Provider Relief Fund (PRF), Assistance Listing No. 93.498, which is presented in accordance with program requirements as described below. This schedule of expenditures includes the activity of Gilead Community Services, Inc. (Gilead). Because the schedule presents only a selected portion of the operations of Oak Hill, it is not intended to and does not present the financial position, changes in net assets or cash flows of Oak Hill.