Notes to SEFA
Title: Note A - 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: Walker Senior Housing Corporation X, Walker on Lyndale 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 (the "Schedule") includes the federal grant
activity of Walker on Lyndale 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 Walker Senior Housing Corporation X, Walker on Lyndale, it is not intended
to and does not present the financial position, changes in net assets or cash flows of Walker Senior
Housing Corporation X, Walker on Lyndale.
Title: Note D - Federally Funded and Insured Mortgages
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: Walker Senior Housing Corporation X, Walker on Lyndale has not elected to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Walker Senior Housing Corporation X, Walker on Lyndale has received a US Department of Housing and
Urban Development direct loan under Section 202 of the National Housing Act. The mortgage balance at
the beginning of the year is included in the federal expenditures presented in the Schedule. There were no
additional loans received during the year. The balance of the loan outstanding as of December 31, 2023 is
$4,300,800.