Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures and lost revenues in 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: The Organization has elected not to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal grant activity of Nursing and Therapy Services of Colorado, Inc. ("Organization") under the U.S. Department of Small Business ("SBA") 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"). Expenditures and lost revenues in 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.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures and lost revenues in 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: The Organization has elected not to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
As required by SBA, Economic Injury Disaster Loans ("EIDL") are reported on the Schedule based on when loan proceeds were received. Because EIDL have no continuing compliance requirements other than repayment, they are not subject to Uniform Guidance audit requirements after the initial year of the loan.
Title: INDIRECT COSTS
Accounting Policies: Expenditures and lost revenues in 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: The Organization has elected not to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The Organization has elected not to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.