Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Alpine East, Inc. (the Organization) under programs of 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 operation 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 Organization has received a loan funded by programs of U.S. Department of Housing and Urban Development. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Such balance has been included as net assets in the financial statements of the Organization as of June 30, 2025 since the likelihood of repayment is remote. The Organization received no additional loans during the year ended June 30, 2025. The balance of the loan outstanding at June 30, 2025 is as follows: Program or Cluster Title/Federal ALN/Amount Outstanding: Supportive Housing for Persons with Disabilities (Section 811)/14.181/$937,700.