Notes to SEFA
Title: Loan Programs
Accounting Policies: Expenditures reported on 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: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule consist of 90% of the beginning of the year outstanding balance of the Care Centers USDA guaranteed loan. The total outstanding balance of the loan as of July 1, 2021, was $5,040,653, of which 90% is$4,536,588 and is the amount reported on the Schedule. If applicable, 90% of any advances made on the loan during the year would also be reported on the Schedule. The outstanding balance of the Care Centers USDA guaranteed loan as of June 30, 2022, was $4,873,227, of which 90% totals $4,385,904.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on 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: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Rolette Community Care Center, Inc. (Care Center) under programs of the federal government for the year ended June 30, 2022. 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 the Care Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Care Center.
Title: Provider Relief Funds
Accounting Policies: Expenditures reported on 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: The auditee did not use the de minimis cost rate.
The Care Center received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan (PRF) program. (Federal Financial Assistance Listing/CFDA #93.498) The PRF expenditures were recognized on the Schedule when the expenditures were included in the reporting to HHS for Period 2 and Period 3, defined as payments received between July 1, 2020 and June 30, 2021. As the total amount of $160,431 was included on the Period 2 and Period 3 reports submitted to HHS, that amount is shown on the accompanying Schedule.