Title: Basis of Accounting
Accounting Policies: 1. Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of The Presbyterian Medical Center of Washington, Pennsylvania, Inc. d/b/a Southmont
of Presbyterian SeniorCare (Southmont) under programs of the federal government for the year ended
December 31, 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 Southmont, it is not intended to and does not present the financial
position, changes in net deficit or cash flows of Southmont. Additionally, due to the different reporting
requirements of the financial statements from those of the above Schedule, some amounts presented
may differ from amounts presented in, or used in, the preparation of the financial statements.
2. Summary of Significant 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. Pass-through agency
identifying numbers are presented where available.
4. Indirect Costs
Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
5. Loan Programs
Southmont has an outstanding loan balance of $5,487,360 with continuing compliance requirements as of
December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule.
The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.
De Minimis Rate Used: N
Rate Explanation: Southmont has not elected to use the 10% 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 of The Presbyterian Medical Center of Washington, Pennsylvania, Inc. d/b/a Southmont
of Presbyterian SeniorCare (Southmont) under programs of the federal government for the year ended
December 31, 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 Southmont, it is not intended to and does not present the financial
position, changes in net deficit or cash flows of Southmont. Additionally, due to the different reporting
requirements of the financial statements from those of the above Schedule, some amounts presented
may differ from amounts presented in, or used in, the preparation of the financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1. Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of The Presbyterian Medical Center of Washington, Pennsylvania, Inc. d/b/a Southmont
of Presbyterian SeniorCare (Southmont) under programs of the federal government for the year ended
December 31, 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 Southmont, it is not intended to and does not present the financial
position, changes in net deficit or cash flows of Southmont. Additionally, due to the different reporting
requirements of the financial statements from those of the above Schedule, some amounts presented
may differ from amounts presented in, or used in, the preparation of the financial statements.
2. Summary of Significant 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. Pass-through agency
identifying numbers are presented where available.
4. Indirect Costs
Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
5. Loan Programs
Southmont has an outstanding loan balance of $5,487,360 with continuing compliance requirements as of
December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule.
The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.
De Minimis Rate Used: N
Rate Explanation: Southmont has not elected to use the 10% 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. Pass-through agency
identifying numbers are presented where available.
Title: Indirect Costs
Accounting Policies: 1. Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of The Presbyterian Medical Center of Washington, Pennsylvania, Inc. d/b/a Southmont
of Presbyterian SeniorCare (Southmont) under programs of the federal government for the year ended
December 31, 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 Southmont, it is not intended to and does not present the financial
position, changes in net deficit or cash flows of Southmont. Additionally, due to the different reporting
requirements of the financial statements from those of the above Schedule, some amounts presented
may differ from amounts presented in, or used in, the preparation of the financial statements.
2. Summary of Significant 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. Pass-through agency
identifying numbers are presented where available.
4. Indirect Costs
Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
5. Loan Programs
Southmont has an outstanding loan balance of $5,487,360 with continuing compliance requirements as of
December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule.
The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.
De Minimis Rate Used: N
Rate Explanation: Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: Loan Programs
Accounting Policies: 1. Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of The Presbyterian Medical Center of Washington, Pennsylvania, Inc. d/b/a Southmont
of Presbyterian SeniorCare (Southmont) under programs of the federal government for the year ended
December 31, 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 Southmont, it is not intended to and does not present the financial
position, changes in net deficit or cash flows of Southmont. Additionally, due to the different reporting
requirements of the financial statements from those of the above Schedule, some amounts presented
may differ from amounts presented in, or used in, the preparation of the financial statements.
2. Summary of Significant 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. Pass-through agency
identifying numbers are presented where available.
4. Indirect Costs
Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
5. Loan Programs
Southmont has an outstanding loan balance of $5,487,360 with continuing compliance requirements as of
December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule.
The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.
De Minimis Rate Used: N
Rate Explanation: Southmont has not elected to use the 10% de-minimis indirect cost rate as allowed under the
Uniform Guidance.
Southmont has an outstanding loan balance of $5,487,360 with continuing compliance requirements as of
December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule.
The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.