Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Arcadia Place, Inc., and is presented on the accrual basis of accounting. 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 Arcadia Place, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Arcadia Place, Inc.
The outstanding balance of the capital advance at December 31, 2025 was $1,341,000.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are reognized following the cost principlas contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.