Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 - Basis of Presentation: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting and includes the HUD insured loan of Columbia Hills Retirement Center, Inc. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Basis of Presentation: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting and includes the HUD insured loan of Columbia Hills Retirement Center, Inc. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
Title: Note 2 - Loans Outstanding
Accounting Policies: Note 1 - Basis of Presentation: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting and includes the HUD insured loan of Columbia Hills Retirement Center, Inc. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Columbia Hills Retirement Center, Inc. had the following loan balances outstanding at June 30, 2023. These loan balances outstanding are also included in the federal expenditures presented in the schedule