Notes to SEFA
Title: Community Facilities Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Enhanced Living, Inc. under programs of the federal government for the year ended December 31, 2022. The information in this 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 Enhanced Living, Inc., it is not intended to and does not present the financial position, changes in net position of Enhanced Living, Inc. Expenditures reported on Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniformed Guidance, wherein certain types of expenditures are not allowable or as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Enhanced Living, Inc. has not elected to use the 10 percent de minimis indirect cost rates as allowed under the Uniform Guidance because no indirect costs were allowed under the federal awards.
The balance of Community Facilities Loans outstanding at the end of the audit period were $9,493,849.