Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of PresentationThis schedule includes the federal grant activity of CB Sunrise Manor LLC under programs of the federalgovernment for the year ended December 31, 2022. The information presented in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Becausethe schedule presents only a selected portion of the operations of CB Sunrise Manor LLC, it is not intended toand does not present the financial position, changes in net assets, or cash flows of CB Sunrise Manor LLC.
De Minimis Rate Used: N
Rate Explanation: Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for theguaranteed loan as discussed below.(2) CB Sunrise Manor LLCs federal awards are not based on eligible costs incurred. Accordingly, CB SunriseManor LLC has not made an election related to the use of the 10% de minimis indirect cost rate described inthe Uniform Guidance.
LoanFederal expenditures for the Section 538 Rural Rental Housing Guaranteed Loans program represent the balance at the beginning of the year balance of the loan outstanding from previous years for which the grantor imposes continuing compliance requirements. The balance of the loan outstanding as of December 31, 2022 was $1,217,517.