Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Thomas Wilbur Homestead, 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
Thomas Wilbur Homestead, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Thomas Wilbur Homestead, Inc.
De Minimis Rate Used: Y
Rate Explanation: Thomas Wilbur Homestead, Inc. has elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Thomas Wilbur Homestead, 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
Thomas Wilbur Homestead, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Thomas Wilbur Homestead, Inc
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Thomas Wilbur Homestead, 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
Thomas Wilbur Homestead, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Thomas Wilbur Homestead, Inc.
De Minimis Rate Used: Y
Rate Explanation: Thomas Wilbur Homestead, Inc. has elected to use the 10% de minimis indirect cost rate as
allowed under 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.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Thomas Wilbur Homestead, 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
Thomas Wilbur Homestead, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Thomas Wilbur Homestead, Inc.
De Minimis Rate Used: Y
Rate Explanation: Thomas Wilbur Homestead, Inc. has elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
Thomas Wilbur Homestead, Inc. has elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.