Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Bayamón Senior Citizens Housing Company, Inc., operating as Torre Jesus Sanchez Erazo Apartments, HUD Project 056-EH035, 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 Bayamón Senior Citizens Housing Company, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bayamón Senior Citizens Housing Company, Inc.
Bayamón Senior Citizens Housing Company, Inc. has received a flexible subsidy loan under Section 201. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Bayamón Senior Citizens Housing Company, Inc. received no additional loans during the year. The balance of the Section 201 Operating Assistance for Troubled Multifamily Housing Projects Flexible Subsidy Loan outstanding as of March 31, 2025 was $370,767.