Notes to SEFA
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Chapin Home for the Aging (the “Home”) 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”). Because the Schedule presents only a selected portion of the operations of the Home, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Home.
The Home received a U.S. Department of Housing and Urban Development/Federal Housing Authority loan under section 232 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Home received no additional loans during the year. The loan balance outstanding at December 31, 2024 is $7,291,356.