Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of Brookdale Village Housing Corporation, HUD Project No. 012-119-NI, 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 Brookdale Village Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Brookdale Village Housing Corporation. For the year ended June 30, 2025, no awards were passed through to subrecipients.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Brookdale Village Housing Corporation has received a U.S. Department of Housing and Urban. See the Notes to the SEFA for chart/table Development mortgage insurance loan under Section 223(f) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Brookdale Village Housing Corporation received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: