Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore, no indirect cost rate is needed.
The accompanying schedule of expenditures of federal awards (The "Schedule") includes the federal award
activity of Methodist Manor Retirement Community., 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 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
Methodist Manor Retirement Community, it is not intended to and does not present the financial position, changes
in net assets, or cash flows of Methodist Manor Retirement Community.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Methodist Manor Retirement Community has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Title: Passed Through to Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore, no indirect cost rate is needed.
Methodist Manor Retirement Community does not have grants passed through to subrecipients.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore, no indirect cost rate is needed.
The following loan balances were outstanding at December 31, 2024:
Assistance
Listing Amount
Number Outstanding
Community Facilities Loans & Grants 10.766 $27,681,548