Notes to SEFA
The schedule of expenditures of federal awards (Schedule) includes the federal grants activity of Northeastern Center, Inc. (NEC) only and not the consolidated affiliates under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the audit 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). NEC’s consolidated affiliate, Opportunity Apartments, Inc. received approximately $751,000 in federal awards which are not included in NEC’s accompanying Schedule for the year ended June 30, 2025. This affiliate was independently audited by other auditors in accordance with Title 2 U.S. CFR Part 200. Because the Schedule presents only a selected portion of the operations of NEC, it is not intended to and does not present the financial position, activities and changes in net assets or cash flows of NEC.