Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of CASL Senior Housing, Inc., HUD Project No. 071-EE039/IL06-S931-00 I, under programs of the federal government for the year ended June 30, 2025. 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 CASL Senior Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of CASL Senior Housing, Inc.. For the year ended June 30, 2025, no awards were passed through to subrecipients
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The total amount funded under capital advances from HUD is reflected at its actual balance as of June 30, 2025 in the accompanying schedule of expenditures of federal awards.
CASL Senior Housing, Inc., has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
CASL Senior Housing, Inc., has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the Housing Act 1959. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. CASL Senior Housing, Inc. received no additional loans during the year. The balance of the loan outstanding June 30, 2025 consist of: Assistance listing number Program Name Outstanding Balance at June 30, 2025 14.157 Supporting Housing for the Elderly - Capital Advance $ 6,729,700 $ 6,729,700