Notes to SEFA
Title: Note A – Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Project does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the Arizona Retirement Home of Scottsdale II, Inc. (Project No. 123-EE001) (the Project) under programs of
the federal government for the year ended December 31, 2024. The information 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 the Project, it is not intended to and does not present the financial
position, changes in net assets or cash flows of the Project.
Title: Note B – Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Project does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.
Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
Title: Note C – Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Project does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.
The Project does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.