Title: NOTE A--BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of Dalton Senior Housing, Inc. d/b/a Whitfield Commons (DSH) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: De Minimis Indirect Cost Rate: DSH has elected not to use the 10-percent deminimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of Dalton Senior Housing, Inc. d/b/a Whitfield Commons (DSH) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE B--SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of Dalton Senior Housing, Inc. d/b/a Whitfield Commons (DSH) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: De Minimis Indirect Cost Rate: DSH has elected not to use the 10-percent deminimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Indirect Cost Rate: DSH has elected not to use the 10-percent deminimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C--CONTINGENCIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of Dalton Senior Housing, Inc. d/b/a Whitfield Commons (DSH) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: De Minimis Indirect Cost Rate: DSH has elected not to use the 10-percent deminimis indirect cost rate allowed under the Uniform Guidance.
DSH's federal programs are subject to financial and compliance audits by grantor agencies, which if instances of material noncompliance are found, may result in disallowed expenditures and affect DSH's continued participation in specific programs. The amount, if any, of expenditures that may be disallowed by the grantor agencies cannot be determined at this time, although DSH expects such amounts, if any, to be immaterial.
Title: NOTE D--LOAN BALANCES AND RENTAL ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of Dalton Senior Housing, Inc. d/b/a Whitfield Commons (DSH) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: De Minimis Indirect Cost Rate: DSH has elected not to use the 10-percent deminimis indirect cost rate allowed under the Uniform Guidance.
Awards under Section 202 Supportive Housing for the Elderly include both capital advances and rental assistance. Federal awards reported in the accompanying schedule of expenditures of federal awards include the outstanding principal balance on the mortgage note payable at October 1, 2023, and tenant assistance payments received during the year ended September 30, 2024. The outstanding principal balance on the mortgag note payable was $925,036 at September 30, 2024.