Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Casa Victoria Housing Development Fund Company, 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
On January 18, 1999, the Project entered into a Capital Advance/Building Loan Agreement under Section 202 of the National Housing Act of 1959 for the development of housing serving the elderly households. The advanced to the Project was for $7,531,200. The advance need not be repaid so long as the housing remains available to elderly persons through April 1, 2037.