Notes to SEFA
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS - 14.155 -Balances outstanding at the end of the audit period were $2,201,521.
The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of Stoneleigh Housing Development Fund Company, Inc., Project No. 014-11160. The schedule includes expenditures of federal programs received directly from federal agencies.
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting and 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).
Of the federal expenditures presented in the schedule, Stoneleigh Housing Development Fund Company, Inc., Project No. 014-11160 provided no federal awards to subrecipients.
Audit testing procedures were performed for transactions occurring during the year ended December 31, 2024. Grant information is indicated in the schedule of expenditures of federal awards.