The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Louisiana Housing Corporation under programs of the federal government for the year ended June 30, 2025. The information presented 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Louisiana Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Louisiana Housing Corporation.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Louisiana Housing Corporation elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Program Title / Assistance Listing Number / Amount Provided Emergency Solutions Grant Program 14.231 $ 2,317,869 Continuum of Care Program 14.267 $13,770,228 Low-Income Home Energy Assistance Program 93.568 $61,948,585 Weatherization Assistance for Low-Income Persons 81.042 $2,408,841 Emergency Rental Assistance Program 21.023 $1,992,431 $ 82,437,954
Per financial statements: Grant funds disbursed (non-operating) $ 256,210,452 Less: State grant funds disbursed (non-operating) $(3,361,643) Add: Mortgage loans issued (capitalized) $227,577,854 Add: HUD Risk Sharing Mortgage Loans $103,750 Add: Administrative costs within operating expenses $16,283,602 Total per schedule of expenditures of federal awards $496,814,015
In accordance with terms of the loans funded under the HOME Program, program income generated during the fiscal year ended June 30, 2025, totaled $915,548. The income was comprised of mortgage loan collections of principal and interest. Program income used during the fiscal year ended June 30, 2025, totaled $3,589,744. That amount was used to reduce the amount of federal funds that would have been drawn to fund various single family and multifamily projects. The expenditure of the program income is included in the accompanying schedule of expenditures of federal awards.
LRS 33:9022 defines “cooperative endeavor” as any form of economic development assistance between and among the State, its local governmental subdivisions, political corporations, public benefit corporations, the United States government, or its agencies, or any public or private association, corporation, or individual. The term cooperative endeavor includes cooperative financing, cooperative development, or any form of cooperative economic development activity. The Corporation has entered into a cooperative endeavor agreement with the State of Louisiana Office of Community Development (OCD), Disaster Recovery Program, implementing a Community Development Block Grant. The Office of Community Development (OCD) expenditures totaled $222,477,819 during the fiscal year ended June 30, 2025 and are properly included on the accompanying Schedule of Expenditures of Federal Awards.
Program Title / Assistance Listing Number / June 30, 2025 Balance HOME Investment Partnerships Program 14.239 $ 185,078,152 Community Development Block Program 14.228 $462,176,379 National Housing Trust Fund 14.275 $26,608,533 Emergency Rental Assistance Program 21.023 $8,716,020 Tax Credit Assistance Program – ARRA 14.258 $65,237,556 Neighborhood Stabilization Program 14.228 $7,175,797 Housing Finance Agency Risk Sharing Program 14.188 $207,500 $ 755,199,937