Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Westminster Towers, Incorporated Westminster Towers HUD Project No.122-SH067/122-35765 (Project) under programs of the federal government for the year ended June 30, 2025. The information in this schedule is presented in accordance with the audit 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 the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project.
As of June 30, 2025, outstanding federally‐funded program loans with continuing compliance requirements are as follows: Assistance Listing No. 14.135, Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest Rate, with $7,453,999 outstanding loans, and with continuing compliance requirements of $12,068,027. Assistance Listing No. 14.157, Supportive Housing for the Elderly, with no outstanding loans, and with continuing compliance requirements of $6,726,727.