Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of
Caulfield Lane Senior Housing, Inc. 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
Caulfield Lane Senior Housing, Inc., it is not intended to and does not present the financial position, changes
in net assets, or cash flows of Caulfield Lane Senior Housing, Inc. The 2024 schedule of expenditures of
federal awards does not include direct and indirect federal awards funded directly to Caulfield Lane Senior
Housing, Inc.’s consolidated for-profit subsidiaries.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Title: NOTE D – LOAN PROGRAM BALANCES OUTSTANDING
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Caulfield Lane Senior Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Loan balances outstanding as of December 31, 2024, are as follows: Capital Advance Program Mortgage $ 19,572,500; Community Development Block Grant Program Loans $ 2,880,340