Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Bonifacio Cora Texidor Housing Development Fund Corporation under programs of the federal government 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 Bonifacio Cora Texidor Housing Development Fund Corporation, it is not intended to and does not present the financial position, changes in net assets or cash flows of Bonifacio Cora Texidor Housing Development Fund Corporation.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal expenditures presented in this Schedule were provided to subrecipients.
Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Bonifacio Cora Texidor Housing Development Fund Corporation had 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. Bonifacio Cora Texidor Housing Development Fund Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists of: Federal Assistance Listing Number Program name Outstanding balance at 12/31/24 14.157 Supportive Housing for the Elderly – Section 202 Capital Advance $ 9,328,300