Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Senior Life Midland, Inc. (the Agency) under programs of the federal government for the year ended December 31, 2024. 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). This Schedule presents only a selected portion of the operations of the Agency and is not intended to and does not present the financial position, changes in net assets, or cash flows of the Agency as a whole.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. The Agency elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Agency had no federal loan programs during the year ended December 31, 2024. The Agency provided no cash federal awards to subrecipients.
Federal financial support is reported in the Agency's statement of activities as follows: Federal Grant Awards $926,452. State Grant Awards $51,243. Total $977,695. Federal grants receivable totaled $115,156 as of December 31, 2024.