Title: (1) NATURE OF OPERATIONS AND BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Ocoee Foundation, Inc. (the Foundation) (Tennessee nonprofit corporation), is a consolidation of companies owned by the Foundation as the sole member, including assisted living facilities. For the year ended December 31, 2023, several of the Ocoee Foundation, Inc.’s assisted living subsidiaries received federal funds from the U.S. Department of Health and Human Services (HHS) through a federal program established by legislation issued in response to the COVID-19 pandemic. A brief description of each assisted living facility member that received this funding as of the year ended December 31, 2023, follows: Elk River Health and Rehabilitation of Ardmore, LLC d/b/a Elk River Health & Nursing Center of Ardmore (a Tennessee limited liability company) is a rehabilitation, skilled nursing, and long-term care facility located in Ardmore, Tennessee. Ocoee Hillview Health Center, LLC d/b/a Hillview Health Center (a Tennessee limited liability company) is a 76-bed skilled nursing and rehabilitation center facility in Elizabethton, Tennessee. Ocoee Sevierville Health and Rehabilitation Center, LLC d/b/a Sevierville Healthcare and Rehabilitation Center (a Tennessee limited liability company) is a skilled nursing, rehabilitation, and respite care facility in Sevierville, Tennessee.
Ocoee Colby Healthcare Center, LLC d/b/a Colonial Center, LLC (a Wisconsin limited liability company) is a skilled nursing and rehabilitation center in Colby, Wisconsin. The accompanying consolidated schedule of expenditures of federal award (the SEFA) includes the federal award activity for the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution of the Ocoee Foundation, Inc. and subsidiaries (as described above) for the year ended December 31, 2023.
Title: (2) SUMMARY OF SIGNFICIANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
Title: (3) PROVIDER RELIEF FUND (PRF) AND AMERICAN RESCUE PLAN (ARP) RURAL DISTRIBUTION (COVID-19) ASSISTANCE LISTING NUMBER 93.498
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
For the HHS award related to the PRF and the ARP Rural Distribution, HHS has indicated the amounts on the SEFA be reported corresponding to reporting requirements of the Health Resources & Services Administration (HRSA) PRF Reporting Portal (the Portal). Payments from HHS for PRF and ARP Rural Distribution are assigned to “Payment Received Periods” (each, a “Period”) based upon the date each payment from the PRF and the ARP Rural Distribution was received. Each Period has a specified period of availability and timing of reporting requirements. Entities report into the Portal after each Period’s deadline to use the funds (i.e., after the end of the period of availability). The accompanying SEFA includes $3,475,600 of Period 5 distributions received from HHS between January 1, 2022, through June 30, 2022, and reported by the Foundation in the HRSA PRF Reporting Portal as used during the corresponding Period of Availability in accordance with guidance from HHS.
Title: (4) SUBRECIPIENTS
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
None of the Foundation’s federal awards expenditures were provided to subrecipients during the year ended December 31, 2023.
Title: (5) NONCASH ASSISTANCE, INSURANCE AND LOAN GUARANTEES
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Foundation did not receive any noncash awards for surplus property, interest rate subsidies, insurance awards, or other noncash awards during the fiscal year ended December 31, 2023.
Title: (6) INDIRECT COST RATE
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: (7) ESTIMATES
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The preparation of the SEFA in conformity with Uniform Guidance and accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount during the reporting period. Actual results could differ from those estimates.
Title: (8) CONTINGENCIES
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The PRF’s and ARP Rural Distribution received by the Foundation, Inc. are for specific purposes and are subject to review by HHS. Such audits may result in requests for reimbursement due to disallowed expenditures. The Foundation believes it is in compliance with the requirements of the PRF and ARP Rural Distribution program.
Title: (9) SUBSEQUENT EVENTS
Accounting Policies: Expenditures reported on the SEFA are reported using the accrual basis of accounting. The amount of expenditures reported on the SEFA for Assistance Listing Number 93.498 represents expenditures incurred during the periods of availability of January 1, 2020, through June 30, 2023, for Period 5. 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.
De Minimis Rate Used: N
Rate Explanation: The Foundation has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The SEFA and related disclosures include evaluation of events through June 13, 2024, which is the date the SEFA was available to be issued.