Notes to SEFA
The City participates in the Housing and Urban Development HOME Program for low-income individuals, as part of a regional consortium administered through the City of Richland. The City is not privy to information on what portion of funds received from the City of Richland are derived from program income. The amount of loan funds disbursed to program participants for the year was $25,350 and is presented in this schedule. The amount of principal and interest in loan repayments received for the year was $154,272.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City’s portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The city was approved by Department of Ecology to receive a loan totaling 30,951,000 in 2024 to renovate Public Works Reuse Facility winter storage. The amount listed for this loan includes the expenses funded with the loan proceeds withing the current fiscal year.