Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of NC Elderly Housing, Inc. under programs of the federal government as of and for the year ended December 31, 2024. 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 does not present the financial position, changes in net assets or cash flows of NC Elderly Housing, Inc.
NC Elderly Housing, Inc. has received a direct loan under the Section 202 Direct Loan program. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The loan balance as of December 31, 2024, is $441,681.
No awards were passed through to subrecipients during the year ended December 31, 2024.