Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activities of Waiʻanae Community Re-Development Corporation and Subsidiary (the Organization) under programs of the federal government for the year ended December 31, 2024. The information in the 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 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 received a direct federal loan from the United States Department of Agriculture. The note payable balance and transactions relating to this program are included on the Organization’s financial statements. The outstanding balance on the note payable amounted to $900,000 as of December 31, 2024 and is included as federal expenditures presented in the Schedule.