Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recongized 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 uses a cost allocation plan based on the number of transactions.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Sheboygan Senior Community, Inc. and Affiliate (the Organization)
under programs of the federal government for the year ended June 30, 2022. The
information in the Schedule is presented in accordance with the requirements of the Title 2
US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Therefore,
some amounts presented in the Schedule may differ from amounts presented in, or used in
the preparation of, the basic consolidated financial statements.
Title: Note 2 Significant Accounting Policies
Accounting Policies: Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recongized 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 uses a cost allocation plan based on the number of transactions.
Expenditures 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. The Organization has elected not to use the 10% de minimis indirect cost
rate allowed under the Uniform Guidance.
Title: Note 3 Reconciliation to Consolidated Financial Statements
Accounting Policies: Expenditures in the schedule are reported on the accrual basis of accounting. Such expenditures are recongized 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 uses a cost allocation plan based on the number of transactions.
The consolidated financial statements reflect revenue recognized from the Provider Relief
Fund (PRF) of $103,183 and $278,818 for the years ended June 30, 2022 and 2021,
respectively. The SEFA includes Provider Relief Funds of $171,304 that were received in
PRF Period 2 and Period 3 in accordance with the requirements of the compliance
supplement for assistance listing number 93.498.