Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Red Maple Housing Corporation under programs of the federal government for the year ended September 30, 2025. 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 Red Maple Housing Corporation, it is not intended to and does not present the financial position, change in net assets, or cash flows of Red Maple Housing Corporation.
The Project was awarded a capital advance from HUD for the construction of the rental property. It is administered directly by Red Maple Housing Corporation, and the balance and transactions relating to this program is included in Red Maple Housing Corporation's basic financial statements. The capital advance at the beginning of the year is included in the federal expenditures presented in the schedule. The capital advance has not changed through September 30, 2025. AL Number: 14.181, Program Name: Supportive Housing for Persons with Disabilities, Outstanding Balance: $1,366,000.