Notes to SEFA
Title: Basis of Presentation
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Charles Place Manor, Inc. has elected not to use the 10% de minimis indirect cost allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of St. Charles Place Manor, Inc. (the Organization) under programs of the federal government for the year ended September 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 operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Charles Place Manor, Inc. has elected not to use the 10% de minimis indirect cost 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: Capital Advances and Mortgage Payable
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Charles Place Manor, Inc. has elected not to use the 10% de minimis indirect cost allowed under the Uniform Guidance.
In accordance with the provisions of the Uniform Guidance , the amounts shown in this Schedule under capital advances and mortgage payable represent the funds provided as a federal award that remain as an outstanding obligation to the federal agency and that are included in the single audit threshold for reporting purposes (see Note 4).
Title: Indirect Cost Rate
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: St. Charles Place Manor, Inc. has elected not to use the 10% de minimis indirect cost allowed under the Uniform Guidance.
The Organization has elected not to use the 10% de minimis indirect cost allowed under the Uniform Guidance.