Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state award activity of Cheshire Home Inc., under programs of the federal government and the State of New Jersey for the year ended December 31, 2024. 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 Cheshire Home Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Cheshire Home Inc..
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. 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.
Cheshire Home Inc. has elected to not use the 10% de minimis indirect cost rate.