Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Egida Petra Soto Pascual, HUD Project No 056-EE-011CA, 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 Egida Petra Soto Pascual, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Egida Petra Soto Pascual.
Egida Petra Soto Pascual has received a U.S. Department of Housing and Urban Development direct advance capital grant under Section 202 of the National Housing Act. The grant balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Project received no additional capital advances during the year. The balance of the grant outstanding on December 31, 2024, consists of the 14.157, Supportive Housing for the Elderly, Section 202. Outstanding balance of $3,840,949.