Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Erie County Rentals, Inc. and 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 Erie County Rentals, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Erie County Rentals, Inc.
Erie County Rentals, Inc. has received a U.S. Department of Housing and Urban Development insured mortgage under Section 223(f)/207 of the National Housing Act. The loan balance outstanding at the beginning of the period is included in the federal expenditures presented in the Schedule, which was received November 7th, 2023. The balance of the loan outstanding at December 31, 2024 is $5,310,053.