Notes to SEFA
The accompanying schedule of expenditures of Federal awards (the “Schedule”) includes the Federal award activity of Cedar Lane Senior living Community, LLC 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 Cedar Lane Senior Living Community, LLC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cedar Lane Senior Living Community, LLC.
Cedar Lane Senior Living Community, LLC has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is included in the Federal expenditures presented in the schedule. Cedar Lane Senior Living Community, LLC. received no additional advances during the year. The balance of the capital advance outstanding at December 31, 2024 consists of: Assistance Listing Number: 14.155; Program name: Mortgage Insurance for the Purchase or Refincing of Existing Multifamily Housing Projects; Outstanding Balance at December 31, 2024: $5,307,415.