Audit 298155

Title: NOTE A. BASIS OF PRESENTATION Accounting Policies: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Steward Manor 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: Steward Manor has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal award activity of Steward Manor and is presented on the accrual basis of accounting. 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 Steward Manor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Steward Manor.

Title: NOTE C. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE PROGRAM Accounting Policies: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Steward Manor 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: Steward Manor has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Steward Manor has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. Steward Manor received no additional advances during the year. The balance of the capital advance outstanding at June 30, 2023 consists of: Outstanding Balance at Assistance Listing Number Program Name June 30, 2023 14.157 Section 202 Capital Advance $ 2,219,201