Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of SHDC No. 12, Inc., HUD Project No. 140-HD030-NP-CMI (Company), under programs of the federal government for the fiscal year ended June 30, 2025. The information in the 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 the Company, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
The federal expenditures presented in the Schedule for capital advances are the balances of advances from previous years for which compliance requirements continue. At June 30, 2025, the outstanding capital advances balance totaled $1,012,000.