Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awards activity of Riverside Housing Development Corporation 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 our operations, it is not intended to and does not present our financial position, changes in net positions, or cash flows.
We have elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Corporation participates in housing programs where funds have been provided by Federal agencies as loans. Outstanding balances for these loans were as follows: Federal Program Assistance Listing Number(s) 6/30/2024 Net Change 6/30/2025 HUD HOME Investment Partnerships Program 14.239 County of Riverside $ 3,237,748 $ - $ 3,237,748 City of Moreno Valley 2,279,100 - 2,279,100 City of Riverside 934,148 - 934,148 Program total 6,450,996 - 6,450,996 Total Federal Loan Balance $ 6,450,996 $ - $ 6,450,996