Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Christopher Homes of Monette, Inc. 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 Christopher Homes of Monette, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Christopher Homes of Monette, Inc.
Christopher Homes of Monette, Inc. did not have a balance outstanding due to any federal loan programs included in the Organization’s financial statements at June 30, 2025. The U.S. Department of Housing and Urban Development has implemented a capital advance mortgage note program whereby monies were advanced to the Organization to finance the cost of building the complex. This capital advance, totaling $787,00 is included on the Schedule of Federal Awards.