Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Newport, Inc. and is presented on the accrual basis of accounting. 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 Newport, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Newport, Inc.
Newport, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 811. The advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Newport, Inc. received no additional loans during the year. The balance of the advance outstanding at June 30, 2025 consists of: Federal Assistance Listing Number - 14.181; Program Name - Section 811 Capital Advance Supportive Housing for Persons with Disabilities; Outstanding Balance at June 30 2025 - $865600