Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) for the year ended June 30, 2025 includes the federal grant activity of Oaklawn Psychiatric Center, Inc. (OPC) only and not the consolidated affiliates and is presented on the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. OPC’s consolidated affiliates, Oaklawn Apartments, Inc., Simadon Corporation and Madison Residential Services, Inc. (collectively referred to as HUD Affiliates) received approximately $3,180,000 in federal awards which are not included in OPC’s accompanying SEFA for 2025. These HUD Affiliates were independently audited by other auditors in accordance with Title 2 U.S. CFR Part 200. The basic consolidated financial statement classifications may include other financial activity for reporting purposes. Therefore, some of the amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Oaklawn Psychiatric Center, Inc. (OPC) had the following balances outstanding as of June 30, 2025 from HUD Supported Housing and HOME Investment Partnerships Programs through HUD for the construction and renovation of a group home facility. These amounts were recorded on the schedule of expenditures of federal awards (SEFA) in the year the proceeds were expended.
Oaklawn Psychiatric Center, Inc. (OPC) did not pass through federal awards to sub-recipients during 2025.