Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Duncanville Independent Living Center, Project No. 112-HH001-WDD (the “Project”), under programs of the federal government for the year ended December 31, 2024. The information in the 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.
Because the Schedule presents only a selected portion of the operations of the Project, it is not intended to and does not present the financial position, changes in net assets (deficit), or cash flows of the Project. The Project did not provide any funding to subrecipients during the year ended December 31, 2024.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance.
Duncanville Independent Living Center, Project No. 112-HH001-WDD has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule of Expenditures of Federal Awards. The Project received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists of 14.157 Supportive Housing for the Elderly - Section 202 Direct Loan $598,119.