Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Ohio Living and Subsidiaries (the “Corporation”) under programs of the federal government for the year ended June 30, 2023. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The pass-through entity identifying numbers are presented where available. The Corporation has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance. Quaker Heights, LLC (Quaker), a not for profit subsidiary of the Corporation, had total federal expenditures of $9,979,365 during the year ended June 30, 2023. These amounts are excluded from the schedule of expenditures of federal awards due to Quaker having a separate audit on compliance for its major federal program in accordance with the Uniform Guidance for the year ended June 30, 2023, which included this amount on Quaker's individual schedule of expenditures of federal awards.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.