Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: This schedule includes the federal grant activity of Arbor Lakes Senior Housing under programs of the federal government for the year ended December 31, 2022. The information presented 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 (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of Arbor Lakes Senior Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Arbor Lakes Senior Housing. Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the capital advance as discussed below.
De Minimis Rate Used: N
Rate Explanation: Arbor Lakes Senior Housings federal award is not based on eligible costs incurred. Accordingly, Arbor Lakes Senior Housing has not made an election related to the use of the 10% de minimis indirect cost rate described in the Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Federal expenditures reported as capital advances represent the beginning of the year balance of a capital advance outstanding from previous years for which the grantor imposes continuing compliance requirements. Balances outstanding at the end of the audit period were 3973500.