Notes to SEFA
Title: Federal Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB A-122 or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Heritage Manors of Southeast Arkansas, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Federal Loan Program
The federal loan program listed subsequently is administered directly by Heritage Manors of Southeast Arkansas, Inc., and balances and transactions relating to this program are included in Heritage Manors of Southeast Arkansas, Inc.’s basic financial statements. The loan outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the loan outstanding at June 30, 2023, consists of: