Notes to SEFA
Title: Note: 1 Basis of Presentation
Accounting Policies: Note: 2 Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported o nthe accrual basis of accoutning. Such expenditures are recognized following the cost principles contained in the Uniform guidance, wherein certain types of expenditures are nto allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Crossroads has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Crossroads Rehabilitation Center, Inc. and Subsidiary (Crossroads) 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 activities of Crossroads, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Crossroads.
Title: Note 4: Federal loan Programs
Accounting Policies: Note: 2 Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported o nthe accrual basis of accoutning. Such expenditures are recognized following the cost principles contained in the Uniform guidance, wherein certain types of expenditures are nto allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Crossroads has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Crossroads administers an ACL Assistive Technology Loan Fund and balances and transactions relating to this program are included in Crossroads’ basic financial statements. Loans outstanding at the beginning of the year
were $58,751. There were no loans made during the year, and as such, no amounts are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2023 was $0.