Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Frankford Senior Housing Associates T/A Meadow House, HUD Property No. 034-EE010-WAH (the “Corporation”) under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations (CFR) 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 Frankford Senior Housing Associates T/A Meadow House, HUD Property No. 034-EE010-WAH, it is not intended to and does not present the financial position, changes in net assets or cash flows of Frankford Senior Housing Associates T/A Meadow House, HUD Property No. 034-EE010-WAH.
The Corporation has received a HUD Capital Advance under Section 202 of the National Housing Act (Capital Advances). The balance of the Capital Advances at the beginning of the year is included in the federal expenditures presented in the Schedule. The Corporation received no additional capital advances during the year. The balance of the Capital Advances at June 30, 2025 consists of the HUD Section 202 Capital Advances in the amount of $4,232,600. The Corporation received $521,612 in project rental assistance payments under a Project Rental Assistance Contract under the same ALN number (14.157), which is separately presented on the Schedule.