Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of Saint Elizabeth Terrace, Warwick d/b/a Saint Elizabeth Apartments for Seniors (the “Corporation”) under programs of the federal government for the year ended June 30, 2024. 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 Corporation, it is not intended to and does not present the financial position, changes in net asset deficiency, or cash flows of the Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate