Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Lilac Grove Apartments, Inc. HUD Project No. 075-EE140-WAH under the programs of the federal government for the year ended March 31, 2025. 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). Because the schedule presents only a selected portion of the operations of Lilac Grove Apartments, Inc. HUD Project No. 075-EE140-WAH, it is not intended to and does not present the financial position, changes in net assets or cash flows of Lilac Grove Apartments, Inc. HUD Project No. 075-EE140-WAH.
Lilac Grove Apartments, Inc. HUD Project No. 075-EE140-WAH does not have any subrecipients or subrecipient expenditures.
Lilac Grove Apartments, Inc. HUD Project No. 075-EE140-WAH has a capital advance note payable to the Secretary of HUD outstanding at March 31, 2025. The note balance outstanding at the beginning of the fiscal year is included in the federal expenditures presented in the schedule. The Project received no additional loans during the year. The balance of the note outstanding at March 31, 2025 is $1,442,400.