Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Saxonburg Presbyterian Senior Housing, Inc. d/b/a The Commons of Saxonburg(the Corporation) and is prepared using 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, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements.
The Corporation has not elected to use the 10% de-minimis indirect cost rate as allowed underthe Uniform Guidance.
Federal award expenditures include the HUD insured loan balance of $901,961 as of December 31,2024. The Corporation has an outstanding loan balance of $864,096, as of December 31, 2025, withcontinuing compliance requirements.