Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Valley Housing Development Corporation, Inc. (the Organization) under programs of the Federal government for the year ended December 31, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
The farm labor housing loans, are included on the Schedule at their outstanding balances as of January 1, 2024 plus any additional proceeds received during 2024, as they include continuing compliance requirements from Rural Development. At January 1, 2024, the outstanding loan balances were $687,919. During 2024, No additional proceeds were received and principal payments of $21,052 were made. At December 31, 2024, the outstanding loan balances were $666,867.
There were no pass through federal awards made to subrecipients by the Organization during 2024.