Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of The Presbyterian Home at Dover, Inc. (the Organization) and is presented on the accrual basisof accounting. The information in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principlesand Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthis Schedule may differ from amounts presented in, or used in the preparation of, the 2022 basicfinancial statements.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in Office of Managementand Budget Circular A-122, Cost Principles for Nonprofit Organizations, or the cost principles containedin the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Negative amounts shown on the Schedule represent adjustments or credits made inthe normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 10812100.
Title: 3. U.S. Department of Housing and Urban Development (HUD) Capital Advance
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of The Presbyterian Home at Dover, Inc. (the Organization) and is presented on the accrual basisof accounting. The information in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principlesand Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented inthis Schedule may differ from amounts presented in, or used in the preparation of, the 2022 basicfinancial statements.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in Office of Managementand Budget Circular A-122, Cost Principles for Nonprofit Organizations, or the cost principles containedin the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Negative amounts shown on the Schedule represent adjustments or credits made inthe normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization has received a HUD Capital Advance under Section 202 of the National HousingAct (Capital Advances). All Capital Advances made to the Organization are included in the federalexpenditures presented in the Schedule. The capital advance balance at the beginning of the year isincluded in the federal expenditures presented in the Schedule. This is also the balance at December 31,2022. The Organization received no additional Capital Advances during the year ended December 31,2022. The Organization received $483,099 in project rental assistance payments under a Project RentalAssistance Contract under the same Assistance Listing Number (14.157), which is separately presentedon the Schedule. The Organization also received $1,190 in COVID-19 supplemental payments under aProject Rental Assistance Contract under the same Assistance Listing Number (14.157), which isseparately presented on the Schedule.