Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of West Bergen Specialized Housing, Inc., HUD Project No. 031-HD145, under programs of the federal government for the year ended June 30, 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of West Bergen Specialized Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of West Bergen Specialized Housing, Inc.
During the year ended June 30, 2025, Specialized Housing did not provide funds relating to their programs to subrecipients.
West Bergen Specialized Housing, Inc. has received a HUD capital advance loan under Section 811 of the National Affordable Housing Act of 1990. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. West Bergen Specialized Housing, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of the following: Assistance Listing Number Program Name Outstanding Balance 14.181 Section 811 Capital Advance (Loan) $ 1,512,000