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: AVSF 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 Elder Care Alliance of San Francisco (“AVSF”) under a program of the federal government for the year ended June 30, 2023. 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 AVSF, it is not intended to and does not present the financial position, results of operations, or changes in net assets or cash flows of AVSF.
In accordance with guidance from the U.S. Department of Health and Human Services (“DHHS”), AVSF included the Reporting Period 5 expenditures for Provider Relief Fund and American Rescue Plan Rural Distribution Assistance Listing No. 93.498 of $211,140 in the Schedule for the year ended June 30, 2023, to align with DHHS reporting guidelines. In accordance with U.S. GAAP, the total amount of $211,140 of Provider Relief Fund assistance received by AVSF was recognized as revenue during the year ended June 30, 2022, and is included in beginning net assets as of and for the year ended June 30, 2023.
Title: Loan Balance
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: AVSF has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan program identified below is administered directly by AVSF, and balances and transactions relating to this program are included in the financial statements of AVSF. Loans outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2023 consisted of: Federal Assistance Listing Number 14.129; Program Name Mortgage Insurance Nursing Homes; Outstanding Balance at June 30, 2023 of $30,652,286.