Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant and loan activities of Burbank Housing Development Corporation and Affiliates 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 combined financial statements. The purpose of the Schedule is to present a summary of those activities of Burbank Housing Development Corporation and Affiliates for the year ended December 31, 2024, which have been financed by the U.S. Government. For purposes of the Schedule, federal awards include all federal assistance entered into directly and indirectly between Burbank Housing Development Corporation and Affiliates and the federal government. Burbank Housing Development Corporation and Affiliates did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes $12,196,615 in expenditures from prior years for which continuing compliance is required.
See the Notes to the SEFA for chart/table