Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures are
not allowable or are limited as to reimbursement. Caulfield Lane Senior Housing, Inc. has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Caulfield
Lane 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 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 Caulfield Lane Senior
Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows
of Caulfield Lane Senior Housing, Inc.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures are
not allowable or are limited as to reimbursement. Caulfield Lane Senior Housing, Inc. has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures are
not allowable or are limited as to reimbursement. Caulfield Lane Senior Housing, Inc. has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C – LOAN PROGRAM BALANCES OUTSTANDING
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures are
not allowable or are limited as to reimbursement. Caulfield Lane Senior Housing, Inc. has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loan balances outstanding as of December 31, 2023 are as follows:
Capital Advance Program Mortgage $ 19,572,500
Community Development Block Grant Program Loans $ 2,880,340