Audit 307005

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Organization The accompanying schedule of expenditures of federal awards represents all Federal awards administered by the Mid-York Senior Homes, Inc. The Organization is defined in Note 1 to the financial statements. Basis of Accounting The expenditures in the accompanying schedule are presented on an accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements. De Minimis Indirect Cost Rate The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 2. LOANS OUTSTANDING The Organization had the following loan balances outstanding at December 31, 2023. The balances of these loans are included in the federal expenditures presented in the schedule. 2023 Mortgage Payable - RD The mortgage is due January 2029 with interest at 8.75%, collateralized by the building, furniture, and fixtures. Monthly payments for the Organization are $2,215. The Federal government subsidized interest payments monthly, which totaled $10,204 for 2023. The Federal government subsidized principal payments monthly, which totaled $11,087 for 2023. $ 251,619 Mortgage Payable - RD The mortgage is due February 2045 with interest at 8.00%, collateralized by the building, furniture, and fixtures. Monthly payments for the Organization are $2,465. The Federal government subsidized interest payments monthly, which totaled $65,147 year for 2023. 965,080 Total $ 1,216,699 . De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.