Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of St. Francis of Assisi Residences at Braintree II, Inc. (MHFA Project No. 00-291) under programs of the federal government for the year ended June 30, 2025. 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 St. Francis of Assisi Residences at Braintree II, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Francis of Assisi Residences at Braintree II, Inc. For the year ended June 30, 2025, no awards were passed through to subrecipients.
St. Francis of Assisi Residences at Braintree II, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance of the Housing Finance Agency Risk Share Program loan at June 30, 2024 was $2,225,248. 50% of the loan has been included on the SEFA to represent HUD’s 50% risk sharing obligation. St. Francis of Assisi Residences at Braintree II, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: See the Notes to the SEFA for chart
There were no findings of noncompliance identified in connection with the Organization’s single audit for the year ended June 30, 2025.