Notes to SEFA
Title: 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. Vincentian Home, Inc. has elected not
to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost principles contained in the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award
activity of Vincentian Home, 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 Vincentian Home Inc., it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Vincentian Home, Inc.
Title: Summary of Significant Accounting Policies
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. Vincentian Home, Inc. has elected not
to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost principles contained in 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. Vincentian Home, Inc. has elected not
to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
Title: Subrecipients
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. Vincentian Home, Inc. has elected not
to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost principles contained in the Uniform Guidance.
There were no awards passed through to subrecipients for the year ended June 30, 2023.
Title: Prior Expenditures and Reporting Period
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. Vincentian Home, Inc. has elected not
to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost principles contained in the Uniform Guidance.
The schedule of expenditures of federal awards for the year ended June 30, 2023 includes expenditures
for the period beginning July 1, 2021 through December 31, 2021.