Notes to SEFA
The accompanying schedule of expenditures of federal, state and local awards (the Schedule) includes the federal, state, and local award activity of the Adelphoi Village, Inc. (the Organization) for the year ended June 30, 2025. 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) and the state and local activity is presented in accordance with the requirements of the City of Philadelphia Subrecipient Audit Guide. 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.
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. Pass-through entity identifying numbers are presented where available.
The Organization has elected to use the 10% de minimis indirect cost rate.
The Organization uses the self-funded method to fund health insurance claims for 340 employees. The initial funding amounted to approximately $117,000. Self-insurance allows the Organization to avoid making periodic premium payments to an insurance company. Instead, Adelphoi USA, Inc. collects monthly premiums from related parties and reserves deposits in amounts sufficient to cover reserves outlined in the agreement. The reserve deposits can be adjusted periodically based on the Organization’s claim history. A stop-loss insurance policy is carried by the Organization which covers liability in excess of $175,000 per claim participant, with maximum aggregate per policy term of $1,000,000. The reserves for all known claims are reported as a component of accrued expenses.
See the Notes to the SEFA for chart/table