Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Elizabeth James Senior Housing, HUD Project Number 127-35021 (the Organization) for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). The Schedule presents only a selected portion of the operations of the Organization. It is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the requirements contained in the Uniform Guidance. The Organization did not receive assistance during the year in which the de minimis indirect cost rate would have been allowed to be applied.
The Organization had the following loan balance outstanding at December 31, 2025. The loan balance outstanding at January 01, 2025 is included in the federal expenditures presented in the Schedule.