Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. GENERALThe accompanying schedule of expenditures of federal awards presents the activity of allfederal awards programs of The Lutheran Care Network, Inc. (the Company) under programsof the federal government for the year ended December 31, 2022. Federal awards receiveddirectly from federal agencies, as well as federal awards passed through other governmentagencies, are included in the schedule.The information in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because theschedule presents only a selected portion of the operations of the Company, it is not intendedto and does not present the financial position, changes in net assets, functional expenses, orcash flows of the Company.2. BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting used by the Company to report to the federal government. Suchexpenditures 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.Donated Personal Protective EquipmentFor the year ended December 31, 2022, there was no donated personal protective equipmentreceived.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
MORTGAGE INSURANCE_NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES AND ASSISTED LIVING FACILITIES (14.129) - Balances outstanding at the end of the audit period were 8522897.
Title: 3. SUB-RECEPIENTS
Accounting Policies: 1. GENERALThe accompanying schedule of expenditures of federal awards presents the activity of allfederal awards programs of The Lutheran Care Network, Inc. (the Company) under programsof the federal government for the year ended December 31, 2022. Federal awards receiveddirectly from federal agencies, as well as federal awards passed through other governmentagencies, are included in the schedule.The information in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because theschedule presents only a selected portion of the operations of the Company, it is not intendedto and does not present the financial position, changes in net assets, functional expenses, orcash flows of the Company.2. BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using the accrualbasis of accounting used by the Company to report to the federal government. Suchexpenditures 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.Donated Personal Protective EquipmentFor the year ended December 31, 2022, there was no donated personal protective equipmentreceived.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Of the federal expenditures presented in the schedule of federal awards, the Companyprovided no federal awards to sub-recipients.