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: The Home has elected not to use the ten-percent de minimus indirect cost rate allowable under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Cabrini of Westchester (the “Home”) 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Home, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Home.
Title: Non-Cash Awards
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: The Home has elected not to use the ten-percent de minimus indirect cost rate allowable under the Uniform Guidance.
The Home received a U.S. Department of Housing and Urban Development/Federal Housing Authority loan under Section 232 of the National Housing Act. The Home received no additional loans during the year. The loan outstanding at December 31, 2023 was $36,808,835.