Audit 6964

Title: BASIS OF PRESENTATION Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NONCASH EXPENDITURES Expenditures include $1,383,900 of outstanding principal from capital advances received from the Department of Housing and Urban Development in prior years for the purchase and construction of facilities. INDIRECT COST RATE The Homestead Place has elected not to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Direct Expenditures The accompanying schedule of expenditures of federal awards 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.

Title: NONCASH EXPENDITURES Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NONCASH EXPENDITURES Expenditures include $1,383,900 of outstanding principal from capital advances received from the Department of Housing and Urban Development in prior years for the purchase and construction of facilities. INDIRECT COST RATE The Homestead Place has elected not to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Direct Expenditures Expenditures include $1,383,900 of outstanding principal from capital advances received from the Department of Housing and Urban Development in prior years for the purchase and construction of facilities.

Title: INDIRECT COST RATE Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NONCASH EXPENDITURES Expenditures include $1,383,900 of outstanding principal from capital advances received from the Department of Housing and Urban Development in prior years for the purchase and construction of facilities. INDIRECT COST RATE The Homestead Place has elected not to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Direct Expenditures The Homestead Place has elected not to use the 10 percent de minimus indirect cost rate to recover costs as allowed under the Uniform Guidance.