Notes to SEFA
The above Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of SHILOH MANOR, INC., HUD Project. No. 034-EH406 and is presented on the accrual basis of accounting. The information in the 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 shiloh manor, INC., it is not intended to and does not represent the financial position, change in net assets, or cash flows of shiloh manor, INC.
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. shiloh manor, INC. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
shiloh manor, INC. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act of 1959. The loan balance at the beginning of the year is included in the federal expenditures presented in the schedule. shiloh manor, INC. received no additional loans during the year. The balance of the outstanding loan consists of: Outstanding Balance, Assistance Listing Number Program Name June 30, 202514.157 Section 202 – Capital Advances 3,472,400