Notes to SEFA
Title: Note 3 - HUD-Insured Section 232 Mortgage:
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: N
Rate Explanation: RPH-West, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All costs are directly allocated.
The HUD insured mortgage listed subsequently is administered directly by RPH-West, Inc., and the balance and transactions relating to this program is included in RPH-West, Inc.'s basic financial statements. The balance of the loan outstanding at December 31, 2022 was $7,298,990.
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: N
Rate Explanation: RPH-West, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. All costs are directly allocated.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of RPH-West, Inc. under programs of the federal government for the year ended December 31, 2022. 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 RPH-West, Inc., it is not intended to and does not present the statement of financial position, change in net assets, or cash flows of RPH-West, Inc.