Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Holy Family Senior Living, Inc. and Controlled Entities (the "Corporation") with the exception of the award programs administered by Antonian Towers, Holy Family Apartments, Neumann Apartments, Queen of Angels Apartments, Queen of Peace Apartments, St. Ann Senior Apartments and St. Catharine Senior Apartments, which have separate Uniform Guidance audits. The Schedule is prepared using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.