Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: (1) Expenditures 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.
(2) VBH elected to use the 10% de minimis indirect cost rate.
(3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Valley
Behavioral Health, Incorporated (VBH) and its affiliate, Salt Lake Mental Health Housing, Inc. (SLMHH), under programs of the
federal government for the year ended December 31, 2024. The activities of other VBH affiliates are not required to be included
in the Schedule.
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) 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 consolidated operations of Valley Behavioral Health,
Incorporated, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows
of Valley Behavioral Health, Incorporated.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: (1) Expenditures 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.
(2) VBH elected to use the 10% de minimis indirect cost rate.
(3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
(1) Expenditures 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.
(2) VBH elected not to use the 10% de minimis indirect cost rate.
(3) Pass-through entity identifying numbers are presented where available.
Title: Note 3 – U.S Department of Housing and Urban Development Loan Program
Accounting Policies: (1) Expenditures 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.
(2) VBH elected to use the 10% de minimis indirect cost rate.
(3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
In a prior year, the Organization (through SLMHH) received a U.S. Department of Housing and Urban Development direct loan
under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the
federal expenditures presented in the Schedule under assistance listing number 14.157. The Organization received no additional
advances on this loan during 2024 and this loan was paid in full during 2024, resulting in a $0 balance as of December 31, 2024.