Notes to SEFA
Title: NOTE 1 – 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: Y
Rate Explanation: Viability, Inc. and Subsidiary have elected 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 grant
activity of Viability, Inc. and Subsidiary 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 operations of Viability, Inc. and Subsidiary it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Viability, Inc. and Subsidiary.
Title: NOTE 2 – 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: Y
Rate Explanation: Viability, Inc. and Subsidiary have elected to use the 10 percent de minimis indirect cost rate 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: NOTE 3 – 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: Y
Rate Explanation: Viability, Inc. and Subsidiary have elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Viability, Inc. and Subsidiary have elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 4 – PASS-THROUGH STATE AGENCIES
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: Y
Rate Explanation: Viability, Inc. and Subsidiary have elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures of federal awards for funds passed through state agencies is based on information provided
by the Commonwealth of Massachusetts Operational Services Division.
Title: NOTE 5 – LOAN OUTSTANDING
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: Y
Rate Explanation: Viability, Inc. and Subsidiary have elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Pleasant Pittsfield, Inc. has a loan balance outstanding of $432,900 at June 30, 2023 and 2022. This mortgage note payable is included in the Schedule of Expenditures of Federal Awards.