Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of St. Anthony's Housing Development Fund Co., Inc. (St. Anthony Apartments), 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 (CFR) Part 200,
Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards. Because the Schedule presents only a selected portion of the operations of the Project, it
is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Project.
St. Anthony's Housing Development Fund Co., Inc. has received a U.S. Department of Housing
and Urban Development direct loan under Section 202 of the National Housing Act. The loan
balance outstanding at the beginning of the year is included in the federal expenditures presented
in the schedule. The balance of the loan outstanding at September 30, 2025 consists of the
following loan: Federal Assistance Listing Number 14.155 Section 207/223 Mortgage Insurance
Loan for the Purchase or Refinancing of Existing Multifamily Housing Projects $1,746,343.