Title: Basis of Accounting
Accounting Policies: 1.Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using the accrual basis of accounting.
2.Relationship to Basic Financial Statements
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
3.Indirect Costs
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
4.Loan Programs
Federal award expenditures include the HUD insured loan balance of $938,533 as of December 31,2023. The Corporation has an outstanding loan balance of $901,961, as of December 31, 2024, withcontinuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using the accrual basis of accounting.
Title: Relationship to Basic Financial Statements
Accounting Policies: 1.Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using the accrual basis of accounting.
2.Relationship to Basic Financial Statements
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
3.Indirect Costs
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
4.Loan Programs
Federal award expenditures include the HUD insured loan balance of $938,533 as of December 31,2023. The Corporation has an outstanding loan balance of $901,961, as of December 31, 2024, withcontinuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
Title: Indirect Costs
Accounting Policies: 1.Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using the accrual basis of accounting.
2.Relationship to Basic Financial Statements
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
3.Indirect Costs
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
4.Loan Programs
Federal award expenditures include the HUD insured loan balance of $938,533 as of December 31,2023. The Corporation has an outstanding loan balance of $901,961, as of December 31, 2024, withcontinuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
Title: Loan Programs
Accounting Policies: 1.Basis of Accounting
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using the accrual basis of accounting.
2.Relationship to Basic Financial Statements
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
3.Indirect Costs
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
4.Loan Programs
Federal award expenditures include the HUD insured loan balance of $938,533 as of December 31,2023. The Corporation has an outstanding loan balance of $901,961, as of December 31, 2024, withcontinuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
Federal award expenditures include the HUD insured loan balance of $938,533 as of December 31,2023. The Corporation has an outstanding loan balance of $901,961, as of December 31, 2024, withcontinuing compliance requirements.