Notes to SEFA
Accounting Policies: 1. The accompanying schedule of Federal Awards includes the Federal Award activity of Antioch Hillcrest Terrace, Inc. under programs of the Federal Government for the year ended June 30, 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 Requirements for Federal Awards (Uniform Guidance). 2. The accrual basis of accounting is used for expenditures of Federal Awards. 3. $4,895,800 Housing for the Elderly Loan on October 27, 2000, due to the U.S. Department of Housing & Urban Development (HUD), 0% interest, due December 1, 2045, continuing tenant eligibility requirements. $731,000 HOME loan on October 1, 1998, due October 1, 2038 to the County of Contra Costa, continuing tenant eligibility requirements.
De Minimis Rate Used: N
Rate Explanation: Antioch Hillcrest Terrace, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.