Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA 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. The Center has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Sycamore Rehabilitation Services / Hendricks County ARC, Inc. dba Sycamore Services, Inc. (Sycamore Services) under programs of the federal government for the year ended June 30, 2022. The information in the SEFA is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Therefore, some of the amounts presented in the SEFA may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. The basic consolidated financial statement classifications may include other financial activity for reporting purposes.
Title: SUBRECIPIENT PASS-THROUGH
Accounting Policies: Expenditures reported on the SEFA 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. The Center has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Sycamore Services did not pass through any federal awards to subrecipients during 2022.
Title: PROVIDER RELIEF FUNDS
Accounting Policies: Expenditures reported on the SEFA 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. The Center has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Under terms and conditions of the Provider Relief Fund (PRF) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Sycamore Services is required to report COVID-19 related expenses and lost revenue to the U.S. Department of Health and Human Services (HHS). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. The 2022 SEFA includes PRF of approximately $236,000 which was received by Sycamore Services during June 30, 2021. Sycamore Services recognized $236,000 as revenue in the 2021 statement of activities and changes in net assets as the terms and conditions of the PRF grant were satisfied by Sycamore Services during 2021. HHS requires these PRF amounts be reported on the 2022 SEFA, rather than the 2021 SEFA. Sycamore Services did not receive PRF funds during 2022.
Title: FAIR MARKET VALUE OF DONATED PERSONAL PROTECTED EQUIPMENT (UNAUDITED)
Accounting Policies: Expenditures reported on the SEFA 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. The Center has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During 2022, Sycamore Services did not receive any material donated personal protective equipment from federal sources.