Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Ridgeview Terrace, Inc. and is presented on the accrued basis of accounting. The information on this Schedule is prepared 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 Ridgeview Terrace, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Ridgeview Terrace, Inc.. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals 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: Ridgeview Terrace, Inc. has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.