Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1 - Basis of presentationThe accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of Brighton-Allston Elderly Homes, Inc. under programs of the federalgovernment for the year ended December 31, 2022. The information in this Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations ofBrighton-Allston Elderly Homes, Inc., it is not intended to and does not present the financialposition, changes in net assets or cash flows of Brighton-Allston Elderly Homes, Inc. Note 2 - Summary of significant accounting policiesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Brighton-Allston Elderly Homes, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 20593371.
Title: Note 3 - Federal loan program
Accounting Policies: Note 1 - Basis of presentationThe accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of Brighton-Allston Elderly Homes, Inc. under programs of the federalgovernment for the year ended December 31, 2022. The information in this Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations ofBrighton-Allston Elderly Homes, Inc., it is not intended to and does not present the financialposition, changes in net assets or cash flows of Brighton-Allston Elderly Homes, Inc. Note 2 - Summary of significant accounting policiesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Brighton-Allston Elderly Homes, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The federal loan program listed below is administered directly by Brighton-Allston Elderly Homes,Inc., and balances and transactions relating to this program is included in Brighton-Allston ElderlyHomes, Inc.'s basic financial statements. Loans outstanding at the beginning of the year and loansmade during the year are included in the federal expenditures presented in the Schedule.