Notes to SEFA
Title: Note 1: 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: Willow Health Care, Inc. 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 awards (the “Schedule”) includes the federal award activity of Willow Health Care, Inc. under programs of the federal government for the year ended June 30, 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 Willow Health Care, Inc., it is not intended to and does not present the financial position, results of operations, changes in net assets, or cash flows of Willow Health Care, Inc.
Title: Note 4: Federal Loan Program
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: Willow Health Care, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan program listed subsequently is administered directly by Willow Health Care, Inc., and balances and transactions relating to this program are included in Willow Health Care, Inc.’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2023, consists of: Assistance Listing Number: 10.766 Program Name: Community Facilities Loans and Grants Outstanding Balance at June 30, 2023: $21,243,169
Title: Note 5: Personal Protective Equipment (PPE) (Unaudited)
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: Willow Health Care, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Corporation did not receive any federally donated PPE during the year ended June 30, 2023.