Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mansfield Retirement Community, Inc., HUD Project No. 017-11086, under programs of the federal government for the fiscal 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 Mansfield Retirement Community, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mansfield Retirement Community, Inc.
Mansfield Retirement Community, Inc. has received a U.S. Department of Housing and Urban Development loan guarantee 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. Mansfield Retirement Community, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: CFDA Number 14.155; Program Name Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Projects; Outstanding Balance at June 30, 2025 $2,116,631.