Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDSSignificant Accounting PoliciesThe schedule of expenditures of federal awards includes the federal grant activity ofSt. Lucy's Senior Living, Inc. which operates St. Lucy's Senior Living FacilityHUD Project No. 176-EE042 and is presented on the accrual basis of accounting.The information in this schedule is presented in accordance with the requirementsof Title 2 Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards.St. Lucy's Senior Living, Inc. has elected not to use the 10% de minimis indirect cost rate.St. Lucy's Senior Living, Inc. has a capital advance included on the schedule ofexpenditures of federal awards representing a loan balance of $1,002,900 as ofDecember 31, 2022
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 1002900.