Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal activity of CARING, Inc. and Affiliates and is presented on the accrual basis of accounting. The information in the 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
CARING, Inc. and Affiliates has loans and mortgages with the United States Department of Housing and Urban Development. Balances and transactions relating to these programs are included in these consolidated financial statements. The outstanding loan balance of the loans and mortgages at the beginning of the year are included in the schedule of expenditures of federal awards. The balance of the loans and mortgages outstanding at March 31, 2025 is as follows: