The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of PPEP Senior Housing Services Corporation, Ramona Morales Memorial Apartments, HUD Project No. 123-11164 under programs of the federal government for the year ended June 30, 2024. 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 PPEP Senior Housing Services Corporation, Ramona Morales Memorial Apartments, HUD Project No. 123-11164, it is not intended to and does not present the financial position, changes in net assets, or cash flows of PPEP Senior Housing Services Corporation, Ramona Morales Memorial Apartments, HUD Project No. 123-11164.
In the event that the grantor was either unable to or did not confirm the source of federal funds all amounts were assumed to be federal for purposes of the schedule of expenditures of federal awards.
Major programs are identified in the Summary of Auditor’s Results section of the Schedule of Findings and Questioned Costs.
The mortgage balance, under CFDA No. 14.155, at the beginning of the year of $912,557 is included in the federal expenditures presented in the Schedule. There were no new loans during the year which would require presentation in the Schedule. The outstanding balance of the federally insured mortgage at June 30, 2024 was $877,495.
Total Federal expenditures $1,131,372
Total Non-Federal expenditures – SEFA 0
Total governmental financial assistance 1,131,372
Less: Loan balances 912,557
Housing assistance payments – Section 8 218,815
Plus: Tenant rent receipts 138,205
Total rental receipts – Statement of Activities 357,020