Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of Good Shepherd Homes, Inc. under programs of the federalgovernment for the year ended December 31, 2022. The information in this Schedule ispresented in accordance with the requirements of 2 CFR Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations ofGood Shepherd Homes, Inc., it is not intended to and does not present the financialposition, changes in net assets, or cash flows of Good Shepherd Homes, Inc.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Negative amounts shown on the Schedule represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.Such expenditures are recognized following, as applicable, either the cost principles in OMBCircular A-122, Cost Principles for Non-Profit Organizations, or the cost principles containedin Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 2138363. The ending Section 223(f) Loan balance is $2,138,363 at December 31, 2022.