Notes to SEFA
Title: Loan Program
Accounting Policies: The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal
award activity of Pioneer Home Incorporated and Affiliate d/b/a PioneerCare (PioneerCare) under programs of
the federal government for the year ended December 31, 2023. The information 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 PioneerCare, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of PioneerCare.
Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: PioneerCare does not draw for indirect administrative expenses and has not elected to use the 10% de minimis
cost rate.
Expenditures reported in this schedule consist of the beginning of the year outstanding loan balances of
PioneerCare’s USDA direct loan of $13,997,734, as well as $3,994,822, which is 90% of the beginning of the year
outstanding balance of PioneerCare’s USDA guaranteed loan. If applicable, advances made on the loans during
the year are reported on the schedule. PioneerCare made no advances on the loans during the year ended
December 31, 2023. PioneerCare’s outstanding loan balances for the direct loan and the guaranteed loan as of
December 31, 2023 are $13,726,971 and $4,352,767 (of which 90% is $3,917,490), respectively.