Notes to SEFA
Accounting Policies: Note 1 Basis of PresentationThe accompanying consolidated schedule of expenditures of federal awards of Ave Maria Home, Inc. and Affiliates is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the presentation of the basic consolidated financial statements.The difference in federal awards per the consolidated schedule of federal awards and federal awards per the consolidated statement of activities is due to Provider Relief Fund revenue recognized for the year ended June 30, 2022 totaling $719,204 that is required to be reported on the consolidated schedule of expenditures of federal awards according to the Provider Relief Fund Reporting schedule. The Organization is required to report the funding expended to the Health Resources and Services Administration during the period December 31, 2022 to June 30, 2023. The amount reported in the accompanying consolidated schedule of expenditures of federal awards was Provider Relief Fund revenue recognized during the year ended June 30, 2021.Note 2 Basis of AccountingExpenditures reported in the consolidated 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: Y
Rate Explanation: Note 3 Indirect Cost RateAve Maria Home, Inc. and Affiliates uses the 10% de minimus indirect cost rate as allowed under the Uniform Guidance for direct funding grants. Indirect costs, for pass-through grants, are set by the grant contract with the State of Tennessee.