Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) has beenprepared in accordance with accounting principles generally accepted in the United States ofAmerica. Amounts included in the Schedule are actual expenditures for the year endedDecember 31, 2022. The accompanying Schedule presented the activity of all federal awardprograms of The Lutheran Home of Central New York, Inc. (LHCNY). The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of LHCNYS operations, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of LHCNY.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 2057887.
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) has beenprepared in accordance with accounting principles generally accepted in the United States ofAmerica. Amounts included in the Schedule are actual expenditures for the year endedDecember 31, 2022. The accompanying Schedule presented the activity of all federal awardprograms of The Lutheran Home of Central New York, Inc. (LHCNY). The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of LHCNYS operations, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of LHCNY.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting inaccordance with GAAP. Such expenditures are recognized following the cost principlescontained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) has beenprepared in accordance with accounting principles generally accepted in the United States ofAmerica. Amounts included in the Schedule are actual expenditures for the year endedDecember 31, 2022. The accompanying Schedule presented the activity of all federal awardprograms of The Lutheran Home of Central New York, Inc. (LHCNY). The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of LHCNYS operations, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of LHCNY.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
LHCNY does not have any subrecipients of federal awards.