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, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Lutheran SeniorLife and Affiliates has not elected 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 award activity of Lutheran SeniorLife and Affiliates under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Lutheran SeniorLife and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lutheran SeniorLife and Affiliates.
Title: Financial Statement Revenue
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Lutheran SeniorLife and Affiliates has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The consolidated financial statements reflect revenue recognized from the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural distribution of approximately $1,263,000 for the year ended June 30, 2022. The SEFA includes $738,466 from the PRF which was received in reporting period 4 and 5 and $524,168 from the ARP which was received in reporting period 4 and 5 in accordance with the requirements of the compliance supplement for assistance listing number 93.498.