Notes to SEFA
Title: Section 232 Insured Loan
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Wesley Gardens Retirement Community, Inc. and is presented on the accrual basis. The 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Wesley Gardens Retirement Community, Inc.'s Section 232 Insured Loan was determined to be a Type A Federal Financial Assistance Program based on the total amounts as of and for the year ended June 30, 2022, and was considered a major program under the criteria of Uniform Guidance. The loan balance as of June 30, 2022, was $3,158,837.
Title: Provider Relief Funds
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Wesley Gardens Retirement Community, Inc. and is presented on the accrual basis. The 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended June 30, 2022, Wesley Gardens Retirement Community, Inc. received $110,200 from the U.S. Department of Health and Human Services' Provider Relief Fund federal program period five. Funds received in period five under this Program are due to be reported in the Provider Relief Fund Reporting Portal between July 1, 2023 and September 30, 2023. Guidance on inclusion in the Schedule of Expenditures for Federal Awards is to be provided in the 2023 Compliance Supplement.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Wesley Gardens Retirement Community, Inc. and is presented on the accrual basis. The 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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 3158837.