Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Grand Street Guild East Housing Development Fund Company, Inc., FHA # 012-11500, 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 Grand Street Guild East Housing Development Fund Company, Inc., it is not intended to, and does not, present the financial position, changes in net assets, and cash flows of Grand Street Guild East Housing Development Fund Company, Inc.
Grand Street Guild East Housing Development Fund Company, Inc. has received a U.S. Department of Housing and Urban Development loan insured under Section 223(f) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented on the schedule. Grand Street Guild East Housing Development Fund Company, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 is $47,948,137.