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, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: ReGenesis Health Care, Inc. has elected not 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 grant activity for ReGenesis Health Care, Inc., 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 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 ReGenesis Health Care, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of ReGenesis Health
Care, Inc.
Title: NOTE 2 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: ReGenesis Health Care, Inc. has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
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.
Title: NOTE 3 CONTINGENCIES
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: ReGenesis Health Care, Inc. has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
ReGenesis Health Care, Inc. is subject to audit examination by the funding sources of
grants to determine its compliance with certain grant provisions. In the event that
expenditures could be disallowed through the audit, repayment of such disallowances could
be required.
Title: NOTE 4 INDIRECT COST RATE
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: ReGenesis Health Care, Inc. has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.
ReGenesis Health Care, Inc. has elected not to use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.