Notes to SEFA
The schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Postgraduate Center West 98th Street Residence, Inc. (the “Entity”) 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 the 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 Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.
The Entity received a HUD capital advance under Section 811 of the National Housing Act. The balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Entity received no additional loans or capital advances during the year. The balance of the capital advance outstanding at June 30, 2025 is $1,787,400.