Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of San Francisco Home for the Elderly, Inc, HUD Project No.056-EH-344, 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 San Francisco Home for the Elderly, Inc,, it is not intended to and does not present the financial position, changes in net assets, or cash flows of San Francisco Home for the Elderly, 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. San Francisco Home for the Elderly, Inc, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
San Francisco Home for the Elderly, Inc, has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. San Francisco Home for the Elderly, Inc, received no additional loans during the year. The balance outstanding at September 30, 2023 consists of: Federal Program Name Assistance Number Total Federal Expenditures Section 202, Supportive Housing for the Elderly 14.157 $ 3,369,600