Notes to SEFA
Title: 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: Benjamin Rose Institute on Aging and Subsidiaries has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of Federal awards (the Schedule) includes the Federal award activity of Benjamin Rose Institute on Aging and Subsidiaries 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 Benjamin Rose Institute on Aging and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Benjamin Rose Institute on Aging and Subsidiaries.
Title: U.S. Department of Housing and Urban Development loan program
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: Benjamin Rose Institute on Aging and Subsidiaries has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Benjamin Rose Institute on Aging and Subsidiaries has received U.S. Department of Housing and Urban Development direct loans under Section 202 of the National Housing Act. The loan balances outstanding at the beginning of the year is included in the Federal expenditures presented in the Schedule. Benjamin Rose Institute on Aging and Subsidiaries received no additional loans during the year. The balance of the loans outstanding at December 31, 2022 was $6,370,800.
Title: Donated personal protective equipment
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: Benjamin Rose Institute on Aging and Subsidiaries has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Benjamin Rose Institute on Aging and Subsidiaries did not receive any donated personal protective equipment during 2022.