Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St. Luke Residential Health Care Facility, Inc., HUD Project Nos. 014-43060, 014-10025, and 014-10067 (the Corporation) and is presented in accordance with accounting principles generally accepted in the United States of America. The information in the 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 the Corporation, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Corporation obtained mortgage guarantees from HUD. The outstanding balance of these mortgages at December 31, 2022 was $1,401,508.
Title: Provider Relief Funds (PRF)
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St. Luke Residential Health Care Facility, Inc., HUD Project Nos. 014-43060, 014-10025, and 014-10067 (the Corporation) and is presented in accordance with accounting principles generally accepted in the United States of America. The information in the 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 the Corporation, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount included in the schedule of expenditures of federal awards is based upon the reporting periods ended September 30, 2022 and March 31, 2023.