Audit 34871

Title: Loan/loan guarantee outstanding balances Accounting Policies: Basis of Presentation. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Eastwood Senior Housing, Inc. HUD Project No. 114-EE061-NP, and 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 Eastwood Senior Housing, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Eastwood Senior Housing, Inc. Summary of Significant 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. Indirect Cost Rate. ESH has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Subrecipients. The Organization did not provide federal awards to subrecipients.- De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 3815266.

Title: Loan/loan guarantee outstanding balances Accounting Policies: Basis of Presentation. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Eastwood Senior Housing, Inc. HUD Project No. 114-EE061-NP, and 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 Eastwood Senior Housing, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Eastwood Senior Housing, Inc. Summary of Significant 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. Indirect Cost Rate. ESH has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Subrecipients. The Organization did not provide federal awards to subrecipients.- De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 3815266.