Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) presents the activity of all financial assistance programs of the Organization HUD Project No. 024-11030. Financial assistance received directly from federal agencies is included in the Schedule. 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 the Organization, it is not intended to and does not present the financial position, changes in net deficit, or cash flows of the Organization.
The Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects program expenditures include an outstanding loan balance of $819,226 at June 30, 2025.