Notes to SEFA
Accounting Policies: 1. The accompanying schedule of Federal Awards includes the Federal Award activity of Antioch Rivertown Senior Housing, 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 accual basis of accounting is used for expenditures of Federal Awards. 3. $3,939,100 Housing for the Elderly Loan on September 1, 1992, due to the U.S. Department of Housing & Urban Development (HUD), 0% interest, due October 1, 2033, continuing tenant eligibility requirements. (The loan was forgiven on December 12, 2022).
De Minimis Rate Used: N
Rate Explanation: Antioch Rivertown Senior Housing, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.