Notes to SEFA
Accounting Policies: NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Significant Accounting Policies
The schedule of expenditures of federal awards includes the federal grant activity of
St. Lucy's Senior Living, Inc. which operates St. Lucy's Senior Living Facility
HUD Project No. 176-EE042 and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements
of Title 2 Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards.
St. Lucy's Senior Living, Inc. has elected not to use the 10% de minimis indirect cost rate.
St. Lucy's Senior Living, Inc. has a capital advance included on the schedule of
expenditures of federal awards representing a loan balance of $1,002,900 as of
December 31, 2024
De Minimis Rate Used: N
Rate Explanation: St. Lucy's Senior Living, Inc. has elected not to use the 10% de minimis indirect cost rate.