Notes to SEFA
Title: Note C — U.S. Department of Housing and Urban Development Loan Program:
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity
of St. Luke's Senior Housing, Inc. and is presented on the accrual basis of accounting. 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). The schedule presents only a
selected portion of the operations of St Luke's Senior Housing, Inc. It is not intended to, and
does not present, the financial position, changes in net assets or cash flows of St Luke's Senior
Housing, Inc.
De Minimis Rate Used: N
Rate Explanation: 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. St
Luke's Senior Housing, Inc. has elected not to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
St Luke's Senior Housing, Inc. has received various U.S. Department of Housing and Urban
Development funding. The loan balances outstanding at the beginning of the year are included
in the federal expenditures presented in the Schedule. St Luke's Senior Housing, Inc. received
no additional loans during the year. The balances outstanding at December 31, 2022, consist of:
Program Name CFDA #
Section 202 Capital Advance 14.157 $ 2,945,700
HOME Investment Partnership 14.239 $ 180,000