Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes federal award activity of G.D.L. Corporation (the Corporation) for the year ended May 31, 2025. 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 the Corporation, it is not intended to and it does not present the financial position, changes in net assets or cash flows the Corporation.
Federal housing assistance revenue presented in the Schedule is included in rent revenue in the Corporation's financial statements.