Notes to SEFA
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards ("SEFA") includes the federal awardactivity of Silver Key Senior Services, Inc.'s and Silver Key Senior Services Foundation, Inc.'s(collectively, the "Organization") under programs of the federal government for the year ended June 30,2022. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards ("Uniform Guidance"). Because the SEFA presents only aselected portion of the operations of the Organization, it is not intended to and does not present thefinancial position, changes in net assets, or cash flows of the Organization.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement.The Organization has not elected to use the 10% de minimis indirect cost rate.PROGRAM COSTSThe amounts shown as current year expenditures represent only the federal grant portion of the programcosts. Entire program costs, including city, county, and district portions, are more than shown.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.