Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Garden Path Elder Living, Inc. under programs of the federal government as of and for the year ended April 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regualtions Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Garden Path Elder Living, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Garden Path Elder Living, Inc.
The balance of the USDA loan was $2,947,921 as of April 30, 2025. Management does not consider these funds to be restricted and therefore, they are reported as net assets without donor restrictions.