Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Spurwink Services, Inc. and FOR Developmental Resources (the Organization). The information in this schedule is presented in accordance with 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 Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
The Supportive Housing for the Elderly program expenditures includes a loan that was paid off during the year ended June 30, 2025, therefore there is no outstanding loan balance as of that date. The Rural Housing Service program expenditures include an outstanding loan balance of $693,662 at of June 30, 2025