Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of HPI Non-profit under programs of the federal government for the year ended December 31, 2024. 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 HPI Non-Profit, it is not intended to and does not present the financial position, changes in net assets, or cash flows of HPI Non-Profit.
Loans outstanding at the beginning of the year with ongoing compliance requirements and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2024 is $3,447,765.