Notes to SEFA
Title: Capital Advance Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of Fairview Senior Housing, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the basic financial statements. 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. The amount reported for the capital advance program was the beginning of the year balance, the balance at the end of the year did not change.
De Minimis Rate Used: N
Rate Explanation: Fairview Senior Housing, Inc. did not elect to use the 10% de minimis indirect cost rate
Fairview Senior Housing, Inc. has received a capital grant advances under the U.S. Department of Housing and Urban Development’s Supportive Housing for the Elderly Section 202 Capital Advance Program. The capital advance is treated as a loan program for reporting federal expenditures. The capital advance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Fairview Senior Housing, Inc. received no additional advances and made no payments during the year ended December 31, 2023. The balance of the capital advance outstanding at December 31, 2023 was $6,692,500.
Title: Subrecipient Payments
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of Fairview Senior Housing, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the basic financial statements. 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. The amount reported for the capital advance program was the beginning of the year balance, the balance at the end of the year did not change.
De Minimis Rate Used: N
Rate Explanation: Fairview Senior Housing, Inc. did not elect to use the 10% de minimis indirect cost rate
None of the expenditures reported on the Schedule were passed through to subrecipients.