Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Vermont State Housing Authority under programs of the federal government for the year ended September 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 Vermont State Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Vermont State Housing Authority.
The Rural Development loan program listed subsequently is administered directly by Vermont State Housing Authority, and balances and transactions relating to these programs are included in the Vermont State Housing Authority's basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2025 consist of: