Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Clairmont Oaks 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 Clairmont Oaks it is not intended to and does not present the financial position, changes in net assets, or cash flows of Clairmont Oaks.
Clairmont Oaks has received a U.S. Department of Housing and Urban Development flexible subsidy loan. The flexible subsidy loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Clairmont Oaks received no additional flexible subsidy loans during the year. The balance of the flexible subsidy loan outstanding at June 30, 2025 consists of: Federal Assistance Listing Number - 14.164; Program Name - Operating Assistance for Troubled Multifamily Housing Projects; Outstanding Balance at June 30 2025 - $4011827