Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of L.B.S.H. Housing Corporation 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
L.B.S.H. Housing Corporation has determined that its federal programs with expenditures greater than $ 750,000 are Type A programs and are deemed major programs.
The outstanding balance of loan and loan guarantee programs at December 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $ 514,029.
The $ 239,195 amount of Housing Assistance Payments represents the amount of qualified program assistance payments received in the year ended December 31, 2024.
No amounst were provided to sub-recipients.