Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 2 Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Note 4 Indirect Cost RateThe Facility has elected not to use the 10-percent de minimus indirect cost rate allowed under theUniform Guidance.
MORTGAGE INSURANCE_NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES AND ASSISTED LIVING FACILITIES (14.129) - Balances outstanding at the end of the audit period were 7551076.
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Note 4 Indirect Cost RateThe Facility has elected not to use the 10-percent de minimus indirect cost rate allowed under theUniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award of BishopWicke Health and Rehabilitation Center, Inc. (the Facility) under programs of the federal government for the year ended September 30, 2022. The information in this 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Facility, it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of the Facility.