Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A - GENERAL
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal programs
of Galilee Pavilion – a project of Galilee Village Plus, Inc.
NOTE B – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Galilee
Pavilion – a project of Galilee Village Plus, Inc. 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. Because this schedule presents only a selected portion of the operations of Galilee Pavilion
– a project of Galilee Village Plus Inc., it is not intended and does not present the financial position, change
in net assets, or cash flows of Galilee Pavilion – a project of Galilee Village Plus, Inc. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the
financial statements. Galilee Pavilion – a project of Galilee Village Plus, Inc. did not elect to use the 10% de
minimis cost rate as covered in 2 CFR 200.414 Indirect (F&A) costs.
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 3933476.