Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: NOTE B - 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 principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Arbor Court,
Inc., HUD Project No. 121-EE129, 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
Arbor Court, Inc., it is not intended to and does not present the financial position, changes in net assets, or
cash flows of Arbor Court, Inc.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE B - 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 principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C – LOAN PROGRAM BALANCES OUTSTANDING
Accounting Policies: NOTE B - 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 principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Arbor Court, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loan balances outstanding as of December 31, 2023 are as follows:
Supportive Housing for the Persons with Disabilities
Capital Advance Mortgage $3,294,800
HOME Investment Partnership Program Loan $1,400,000