Notes to SEFA
Title: A - 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Joseph’s Villa has elected not to use the 10% de minimus indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Joseph’s Villa under the programs of the federal government for the year ended June 30, 2023. This information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements and therefore are not intended to present the financial position, changes in net assets, or cash flows of St. Joseph’s Villa.
St. Joseph’s Villa has elected not to use the 10% de minimus indirect cost rate.
The accompanying schedule of expenditures of federal awards does not include the federal grant activity of St. Joseph’s Villa Housing Corp., which was audited and reported on separately by other auditors whose report was dated September 30, 2023.
Title: B - Summary of Significant Accounting Policies
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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Joseph’s Villa has elected not to use the 10% de minimus indirect cost rate.
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 to reimbursement.