Title: Basis of Accounting
Accounting Policies: 1.Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Presbyterian Medical Center of Oakmont, Pennsylvania, Inc. d/b/a The Willows of Presbyterian SeniorCare (The Willows) under programs of the federal government for the year ended December 31,2024. The information in this schedule is presented in accordance with the requirements of Title 2U.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 The Willows, it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of The Willows. Additionally, due to the different reporting requirements of the financial statements from those of the above Schedule, some amounts presented may differ from amounts presented in, or used in, the preparation of the financial statements. 2.Summary of Significant 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, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through agency identifying numbers are presented where available. 3. Indirect Costs The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under the Uniform Guidance. 4.Loan Programs The Willows has an outstanding loan balance of $6,728,270 with continuing compliance requirements as of December 31, 2024. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as ofJanuary 1, 2024.
De Minimis Rate Used: N
Rate Explanation: The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under theUniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Presbyterian Medical Center of Oakmont, Pennsylvania, Inc. d/b/a The Willows of PresbyterianSeniorCare (The Willows) under programs of the federal government for the year ended December 31,2024. 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 The Willows, it is not intended to and does not present the financialposition, changes in net assets (deficit) or cash flows of The Willows. Additionally, due to the differentreporting requirements of the financial statements from those of the above Schedule, some amounts presented may differ from amounts presented in, or used in, the preparation of the financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1.Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Presbyterian Medical Center of Oakmont, Pennsylvania, Inc. d/b/a The Willows of Presbyterian SeniorCare (The Willows) under programs of the federal government for the year ended December 31,2024. The information in this schedule is presented in accordance with the requirements of Title 2U.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 The Willows, it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of The Willows. Additionally, due to the different reporting requirements of the financial statements from those of the above Schedule, some amounts presented may differ from amounts presented in, or used in, the preparation of the financial statements. 2.Summary of Significant 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, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through agency identifying numbers are presented where available. 3. Indirect Costs The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under the Uniform Guidance. 4.Loan Programs The Willows has an outstanding loan balance of $6,728,270 with continuing compliance requirements as of December 31, 2024. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as ofJanuary 1, 2024.
De Minimis Rate Used: N
Rate Explanation: The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under theUniform 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, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through agency identifying numbers are presented where available.
Title: Indirect Costs
Accounting Policies: 1.Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Presbyterian Medical Center of Oakmont, Pennsylvania, Inc. d/b/a The Willows of Presbyterian SeniorCare (The Willows) under programs of the federal government for the year ended December 31,2024. The information in this schedule is presented in accordance with the requirements of Title 2U.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 The Willows, it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of The Willows. Additionally, due to the different reporting requirements of the financial statements from those of the above Schedule, some amounts presented may differ from amounts presented in, or used in, the preparation of the financial statements. 2.Summary of Significant 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, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through agency identifying numbers are presented where available. 3. Indirect Costs The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under the Uniform Guidance. 4.Loan Programs The Willows has an outstanding loan balance of $6,728,270 with continuing compliance requirements as of December 31, 2024. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as ofJanuary 1, 2024.
De Minimis Rate Used: N
Rate Explanation: The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under theUniform Guidance.
The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Loan Programs
Accounting Policies: 1.Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Presbyterian Medical Center of Oakmont, Pennsylvania, Inc. d/b/a The Willows of Presbyterian SeniorCare (The Willows) under programs of the federal government for the year ended December 31,2024. The information in this schedule is presented in accordance with the requirements of Title 2U.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 The Willows, it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of The Willows. Additionally, due to the different reporting requirements of the financial statements from those of the above Schedule, some amounts presented may differ from amounts presented in, or used in, the preparation of the financial statements. 2.Summary of Significant 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, where in certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through agency identifying numbers are presented where available. 3. Indirect Costs The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under the Uniform Guidance. 4.Loan Programs The Willows has an outstanding loan balance of $6,728,270 with continuing compliance requirements as of December 31, 2024. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as ofJanuary 1, 2024.
De Minimis Rate Used: N
Rate Explanation: The Willows has not elected to use the 10% de-minimis indirect cost rate as allowed under theUniform Guidance.
The Willows has an outstanding loan balance of $6,728,270 with continuing compliance requirements as of December 31, 2024. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as ofJanuary 1, 2024.