Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of Mt. Zion Housing Authority of Hammond, Inc. d/b/a Pleasant View, HUD Project No. 073-11344-REFI, 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 ("CFR") 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 Mt. Zion Housing Authority of Hammond, Inc. d/b/a Pleasant View, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mt. Zion Housing Authority of Hammond, Inc. d/b/a Pleasant View.
The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the loan outstanding at December 31, 2024 was $4,218,465.