Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal grant activity of New Directions Housing Corporation and Subsidiaries for the year ended June 30, 2025, and is prepared on the accrual basis of accounting. The information in the 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"). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the presentation of, the accompanying consolidated financial statements. As discussed in Note 1 to the consolidated financial statements, the accompanying consolidated financial statements include the accounts of New Directions Housing Corporation and its subsidiaries. The accompanying Schedule does not include the federal grant activity of the subsidiaries that are otherwise subject to the Uniform Guidance on an individual basis.
Per the U.S. Office of Management and Budget, federal assistance listing number 14.195, Section 8 Housing Assistance Payments Program, is a part of the Section 8 Project-Based Cluster. This Cluster also includes federal assistance listing number 14.249, Section 8 Moderate Rehabilitation Single Room Occupancy, and federal assistance listing number 14.856, Lower Income Housing Assistance Program - Section 8 Moderate Rehabilitation.
Per the U.S. Office of Management and Budget, federal assistance listing number 14.218, Community Development Block Grants/Entitlement Grants, is a part of the Community Development Block Grants - Entitlement/Special Purpose Grants Cluster. This Cluster also includes federal assistance listing number 14.225, Community Development Block Grants/Special Purpose Grants/Insular Areas.
Balances of related mortgages and loans outstanding as of June 30, 2025 are as follows: See notes to SEFA for chart/table.