Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: PioneerCare does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate.
The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal award activity of Pioneer Home Incorporated and Affiliate d/b/a PioneerCare (PioneerCare) under programs of the federal government for the year ended December 31, 2024. The information 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 PioneerCare, it is not intended to and does not present the financial position, changes in net assets, or cash flows of PioneerCare.
Title: Loans Program
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: PioneerCare does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate.
Expenditures reported in this schedule consist of the beginning of the year outstanding loan balances of PioneerCare’s USDA direct loan of $13,726,971, as well as $3,917,490, which is 90% of the beginning of the year outstanding balance of PioneerCare’s USDA guaranteed loan. PioneerCare made no advances on the loans during the year ended December 31, 2024. PioneerCare’s outstanding loan balances for the direct loan and the guaranteed loan as of December 31, 2024 are $13,444,722 and $4,261,955 (of which 90% is $3,835,760), respectively.