Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant award activity of Lourexis, Inc, HUD Project 042-EH307-WAH-L8, under programs of the federal government for the year ended October 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Lourexis, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lourexis, Inc.
On June 8, 2016, the HUD Section 202 mortgage note was refinanced with a Section 207 note pursuant to 223(f) HUD insured mortgage. The outstanding balance of loan and loan guarantee programs at October 31, 2025 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $2,591,710.