Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of The Haven on Broad, 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 The Haven on Broad, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Haven on Broad, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Haven on Broad, Inc. has elected not to use the 15-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Haven on Broad, Inc. has received a U.S. Department of Housing and Urban Development Capital Advance under Section 202 of the National Housing Act. The Capital Advance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Haven on Broad, Inc. received no additional Capital Advances during the year. The balance of the Capital Advance outstanding at December 31, 2025 consists of: Outstanding Balance Federal Assistance Listing Number Program Name at December 31, 2025 14.157 Supportive Housing for the Elderly $ 1,578,800