Notes to SEFA
Title: 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: AbleLight has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the "schedule") includes- the federal and state award activity of AbleLight Inc. (AbleLight) under programs of the federal and state government for the year ended August 31, 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) and the State of New Jersey OMB Circular 15-08. Because the schedule presents only a selected portion of the operations of AbleLight, it is not intended to and does not present the financial position, changes in net assets or cash flows of AbleLight. Expenditures for the following consolidated subsidiaries of AbleLight are not included to meet the requirements contained in the Uniform Guidance because they have separate audits or are not required to have an audit under Uniform Guidance: Faith Village, Inc. Faith Village IV, Inc. Good Shepherd Residence, Inc. Creating Possibilities, Inc. Good Shepherd of Washington Good Shepherd of Washington II Good Shepherd of Colorado I Good Shepherd Corporation of Oregon AbleLight Foundation, Inc. Bethesda Cornerstone Village - Victoria, LLC Cornerstone Village - Highland, LLC Cornerstone Village - WI-I, LLC Cornerstone Village NP MN, Inc. AbleLight Village, LLC Cornerstone Village - Wauwatosa, LLC Cornerstone Village Managing Member - Wauwatosa, LLC The Oregon Good Shepherd Lutheran Home, Inc.
Title: Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution
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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: AbleLight has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Provider Relief Funds and ARP funds of $878,549 and $833,799 are included in revenue on the consolidated statements of activities for the years ending August 31, 2021 and 2020, respectively. Based on guidance from the U.S. Department of Health and Human Services, these funds are required to be included in the schedule of expenditures of federal and state awards for the year ending August 31, 2022. Provider Relief Funds and ARP funds of $1,490,167 are included in revenue on the consolidated statements of activities for the year ending August 31, 2022. Based on guidance from the U.S. Department of Health and Human Services, these funds will be required to be included in the schedule of expenditures of federal and state awards for the year ending August 31, 2023.