Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Palatka Retirement Villa, Inc., HUD Project 063-11121, and 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 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 Palatka Retirement Villa, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Palatka Retirement Villa, Inc.
Palatka Retirement Villa, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 223(t) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the loan outstanding at December 31, 2025 consists of: CFDANumber Program Name Outstanding Balance at December 31, 2025 14.155 Section 223(t) Direct Loan $2,261,886 17