Notes to SEFA
Title: BASIS OF PRESENTATION
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.
De Minimis Rate Used: N
Rate Explanation: Mature Living of
Leachville, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under
the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity
of Mature Living of Leachville, Inc., HUD Project No. 082-EE013-NP-L8, 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 Mature Living of
Leachville, Inc., it is not intended to and does not present the financial; position, changes in net
assets, or cash flows of Mature Living of Leachville, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
De Minimis Rate Used: N
Rate Explanation: Mature Living of
Leachville, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under
the Uniform Guidance.
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. Mature Living of
Leachville, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under
the Uniform Guidance.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE
PROGRAM
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.
De Minimis Rate Used: N
Rate Explanation: Mature Living of
Leachville, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under
the Uniform Guidance.
Mature Living of Leachville, Inc. has received a capital advance from the U.S. Department of
Housing and Urban Development. The capital advance at the beginning of the year is included in the
federal expenditures presented in the schedule. Mature Living of Leachville, Inc. received no
additional loans or capital advances during the current year. The balance of the capital advance
outstanding at December 31, 2023, consists of: