Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Neighborhood Housing Services of the South Shore, Inc. d/b/a NeighborWorks Housing Solutions and subsidiaries (NWHS) under programs of the Federal government for the year ended June 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 NWHS, it is not intended to and does not present the financial position, changes in net assets or cash flows of NWHS.
Community Development Block Grants/Entitlement Grants (CFDA #14.218) The Community Development Block Grant loans, which were received in a prior fiscal year, are included on the Schedule at their outstanding balances as of July 1, 2024, plus additional proceeds received during the year, as they include continuing compliance requirements. During 2025, no additional proceeds were received, no payments were made and no amounts were released from its affordable housing restrictions from the funding agency. At June 30, 2025, the loan balance was $490,881. Housing Investment Partnerships Program (CFDA #14.239) The Housing Investment Partnerships Program loans, which were received in a prior fiscal year, are included on the Schedule at their outstanding balances as of July 1, 2024, plus additional proceeds received during the year, as they include continuing compliance requirements. During 2025, additional proceeds of $54,531 were received and no payments were made. At June 30, 2025, the loan balance was $7,153,373.