Audit 17384

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note 1 - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (The "Schedule") includes the federal awardactivity of Eventide Senior Housing, Inc., HUD Project Number 074-EH095-WAH L8, and is presented on theaccrual basis of accounting. The information in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of Eventide Senior Housing, Inc., it is not intended to and does not present the financialposition, changes in net assets, or cash flows of Eventide Senior Housing, Inc.Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.Note 3 - INDIRECT COST RATEEventide Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.Note 4 - LOANS OUTSTANDINGEventide Senior Housing, Inc. has received a U.S. Department of Housing and Urban Development direct loanunder Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the audit period isincluded in the federal expenditures presented in the Schedule. Eventide Senior Housing, Inc. received noadditional loans during the audit period.The following loan balances were outstanding at June 30, 2022:ProgramSection 202 Direct LoanAssistanceListing14.157AmountOutstanding$1,128,721 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 1128721.