Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the expenditures of The SEED School of Los Angeles County (the “Organization”) and Subsidiaries under programs of the federal government for the year ended June 30, 2025. The information in the Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. For purposes of the Schedule, federal awards include all sub-awards to the Organization by nonfederal organizations pursuant to federal grants, contract and similar agreements.
The following represents the amount of outstanding loans identified by AL No. All loans are included in the Schedule. U.S. Department of Commerce - Economic Development Administration 11.307 Economic Adjustment Assistance: Loans received in year ended June 30, 2025: $500,000, Prior year loans with continuing compliance requrements: $5,000,000** Total outstanding loans: $ 5,500,000 U.S. Department of Housing and Urban Development 14.218 Community Development Block Grants: Loans received in year ended June 30, 2025: $449,663, Prior year loans with continuing compliance requrements: $1,494,975, Total outstanding loans: $ 1,944,638 ** The Economic Adjustment Assistance loan was originally for $5,000,000, received by the Organization in 2021, passed through from the Los Angeles County Development Authority ("LACDA"). The CDBG grant funds above were passed through to the Organization from the City of Los Angeles, Community Investment for Families Department as a service repayment loan.