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: Cedar Lane Senior Living Community I, Inc. has elected not to use the 10 percent de minimus cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of Federal awards (the “Schedule”) includes the Federal award activity of Cedar Lane Senior living Community I, Inc. is presented on the accrual basis of accounting. 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 Cedar Lane Senior Living Community I, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cedar Lane Senior Living Community I, Inc.
Title: U.S. Department of Housing and Urban Development capital advance program
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: Cedar Lane Senior Living Community I, Inc. has elected not to use the 10 percent de minimus cost rate as allowed under Uniform Guidance.
Cedar Lane Senior Living Community I, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the Federal expenditures presented in the schedule. Cedar Lane Senior Living Community I, Inc. received no additional advances during the year. The balance of the capital advance outstanding at November 15, 2023 consists of: