Title: Note 1 - Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable 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: Greencastle of Barrington, Inc., has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal
award activity of Greencastle of Barrington, Inc., HUD Project No. 071-11330, 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 Greencastle of Barrington, Inc., it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Greencastle of Barrington, Inc. For the year ended
December 31, 2023, no awards were passed through to subrecipients.
Title: Note 2 - 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, as applicable 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: Greencastle of Barrington, Inc., has not elected to use the 10-percent de minimis 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, as applicable the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Title: Note 3 - Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable 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: Greencastle of Barrington, Inc., has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Greencastle of Barrington, Inc., has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Title: Note 4 - U.S. Department of Housing and Urban Development loan program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable 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: Greencastle of Barrington, Inc., has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Greencastle of Barrington, Inc., has received a U.S. Department of Housing and Urban
Development direct loan under Section 811 of the National Affordable Housing Act. The loan
balance outstanding at the beginning of the year is included in the federal expenditures presented
in the Schedule. Greencastle of Barrington, Inc. received no additional loans during the year. The
balance of the loan outstanding December 31, 2023 consists of:
CFDA Number Program Name
Outstanding
Balance at
December
31, 2023
14.134 Section 207 insured loan $ 5 ,776,491
14.195 Section 8 Housing assistance payments 1 ,341,148
$ 7 ,117,639