Title: Capital Advances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of The Silvercrest Center for Nursing and Rehabilitation and Silvercrest Senior Housing Development Fund Corporation (the Fund) for the year ended December 31, 2022. The reporting entity resulting from the consolidation of these entities is referred to herein as the Organization. The Schedule is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). In accordance with applicable requirements, certain programs may be presented in a fiscal period based on the program-specific guidance (see Note 3). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of the Organization.For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loan and loan guarantees, or other non-cash assistance.Direct and indirect costs are charged to awards in accordance with cost principles contained in the U.S. Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for Uniform Guidance awards. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement, the Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the Organization did not make this election and uses a negotiated indirect cost rate in the accompanying Schedule.The Schedule includes federal awards subject to the requirements of the Uniform Guidance, as well as federal awards that were funded prior to the Uniform Guidance effective date of December 26, 2014.
De Minimis Rate Used: N
Rate Explanation: Direct and indirect costs are charged to awards in accordance with cost principles contained in the U.S. Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for Uniform Guidance awards. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement, the Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the Organization did not make this election and uses a negotiated indirect cost rate in the accompanying Schedule.
The Fund received the following capital advances in prior years and are included in the Schedule. The balance of capital advances outstanding at December 31, 2022, consisted of: (see table within notes) Outstanding Balance at December 31, 2022 14.157Supportive Housing for the Elderly$ 15,055,212 14.239Home Investment Partnerships Program-Capital Advance2,140,000
Title: COVID-19 Provider Relief Fund
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of The Silvercrest Center for Nursing and Rehabilitation and Silvercrest Senior Housing Development Fund Corporation (the Fund) for the year ended December 31, 2022. The reporting entity resulting from the consolidation of these entities is referred to herein as the Organization. The Schedule is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). In accordance with applicable requirements, certain programs may be presented in a fiscal period based on the program-specific guidance (see Note 3). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of the Organization.For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loan and loan guarantees, or other non-cash assistance.Direct and indirect costs are charged to awards in accordance with cost principles contained in the U.S. Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for Uniform Guidance awards. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement, the Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the Organization did not make this election and uses a negotiated indirect cost rate in the accompanying Schedule.The Schedule includes federal awards subject to the requirements of the Uniform Guidance, as well as federal awards that were funded prior to the Uniform Guidance effective date of December 26, 2014.
De Minimis Rate Used: N
Rate Explanation: Direct and indirect costs are charged to awards in accordance with cost principles contained in the U.S. Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for Uniform Guidance awards. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement, the Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the Organization did not make this election and uses a negotiated indirect cost rate in the accompanying Schedule.
In accordance with the U.S. Department of Health and Human Services requirements specific to Federal Assistance Listing Number 93.498, COVID-19 Provider Relief Fund, the amount presented on the accompanying Schedule for the year ended December 31, 2022 relates to Provider Relief Fund (PRF) payments received from January 1, 2021 through December 31, 2021 used for PRF-eligible activity from the period January 1, 2020 through December 31, 2022. This payment receipt period and activity period and the resulting amount presented on the accompanying Schedule for the year ended December 31, 2022 reconciles to the PRF information previously reported to the Health Resources and Services Administration (HRSA) for PRF Reporting Period 4 as follows: (see table within notes). The Organization did not receive PRF payments during HRSA Reporting Period 3. Through December 31, 2021, the Organization received approximately $2.9 million in PRF payments. The lost revenues incurred by the Organization during the period of availability for PRF Reporting Period 4 (January 1, 2020 through December 31, 2022) are in excess of the general distribution received from January 1, 2021 through December 31, 2022 and, therefore, the amounts presented in the table above and on the accompanying Schedule are limited to the amount of such distribution.