Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of PresentationThis schedule includes the federal grant activity of Century Trails Senior Housing under programs of the federalgovernment for the year ended December 31, 2022. The information presented in this schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the UniformGuidance). Because the schedule presents only a selected portion of the operations of Century TrailsSenior Housing, it is not intended to and does not present the financial position, changes in net assets, orcash flows of Century Trails Senior Housing.
De Minimis Rate Used: N
Rate Explanation: Summary of Significant Accounting Policies1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for thecapital advance as discussed below.2) Century Trails Senior Housings federal award is not based on eligible costs incurred. Accordingly,Century Trails Senior Housing has not made an election related to the use of the 10% de minimis indirectcost rate described in the Uniform Guidance.
Capital AdvanceExpenditures reported as capital advance represent the December 31, 2021 balance of a capital advancereceived in previous years for which the grantor imposes continuing compliance requirements. The balanceof the advance as of December 31, 2022 is $5,081,800.