Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Saugatucket Springs, Inc. under programs of the federal government for
the year ended June 30, 2024. 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 Saugatucket
Springs, Inc. it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Saugatucket Springs, Inc. 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.
De Minimis Rate Used: Y
Rate Explanation: Saugatucket Springs, Inc. has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
Supportive Housing for the Elderly(14.157)- Balances outstanding at the end of the audit period were $7,028,200
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Saugatucket Springs, Inc. under programs of the federal government for
the year ended June 30, 2024. 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 Saugatucket
Springs, Inc. it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Saugatucket Springs, Inc. 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.
De Minimis Rate Used: Y
Rate Explanation: Saugatucket Springs, 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 Saugatucket Springs, Inc. under programs of the federal government for
the year ended June 30, 2024. 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 Saugatucket
Springs, Inc. it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Saugatucket Springs, 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 Saugatucket Springs, Inc. under programs of the federal government for
the year ended June 30, 2024. 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 Saugatucket
Springs, Inc. it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Saugatucket Springs, Inc. 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.
De Minimis Rate Used: Y
Rate Explanation: Saugatucket Springs, 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 Saugatucket Springs, Inc. under programs of the federal government for
the year ended June 30, 2024. 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 Saugatucket
Springs, Inc. it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Saugatucket Springs, Inc. 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.
De Minimis Rate Used: Y
Rate Explanation: Saugatucket Springs, Inc. has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
Saugatucket Springs, Inc. has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.