Notes to SEFA
Title: Loan Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of the Home under programs of the federal government for the year ended June 30, 2023. The information 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 Home, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of the Home. Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Home does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.
Expenditures reported in this schedule consist of the beginning of the year outstanding loan balances plus
advances made on the loan during the year, if applicable. The outstanding balances as of June 30, 2023 and
2022 were $1,618,990 and $1,673,186.