Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activity of CHC Highview, LLC (d/b/a Winfield Townhomes), HUD Project No. 092-35746 (the Company)
under programs of the federal government for the year ended December 31, 2023. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations
of the Company, it is not intended to and does not present the financial position, changes in net assets
(deficit) or cash flows of the Company.
Title: Summary of Significant Accounting Policies
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
The expenditures reported on this 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 Company has elected not to the use of the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance. The Company has not passed funds through to subrecipients at any point.
Title: Mortgage Balance
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported as the HUD-insured mortgages represent the beginning of the year balance of a
mortgages received in previous years for which the grantor imposes continuing compliance requirements.
The balance of the mortgages as of December 31, 2023 is $16,519,568.