Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the capital advance as discussed below.
2) Arbor Lakes Senior Housing’s federal award is not based on eligible costs incurred.
De Minimis Rate Used: N
Rate Explanation: Arbor Lakes Senior Housing has not made an election related to the use of the 10% de minimis indirect cost rate described in the Uniform Guidance.
This schedule includes the federal grant activity of Arbor Lakes Senior Housing under programs of the federal
government for the year ended December 31, 2024. The information presented 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 (the Uniform
Guidance). Because the schedule presents only a selected portion of the operations Arbor Lakes Senior
Housing, it is not intended to and does not present the financial position, changes in net assets, or cash
flows of Arbor Lakes Senior Housing.
Title: Capital Advance
Accounting Policies: 1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the capital advance as discussed below.
2) Arbor Lakes Senior Housing’s federal award is not based on eligible costs incurred.
De Minimis Rate Used: N
Rate Explanation: Arbor Lakes Senior Housing has not made an election related to the use of the 10% de minimis indirect cost rate described in the Uniform Guidance.
Federal expenditures reported as capital advances represent the beginning of the year balance of a capital advance outstanding from previous years for which the grantor imposes continuing compliance requirements. The balance of the capital advance outstanding as of December 31, 2024 was $3,973,500.