Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grants activity of this Project and is presented on the accrual basis of accounting. 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project.
Los Húcares I Project has received a direct loan under Section 515 of USDA Rural Development Housing 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. Los Húcares I Project received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: Assistance Outstanting Listing Number Program Name Balance 10.415 USDA RD Section 515 Direct Loan $ 862,609
A cluster of programs means federal programs with different Assistance Listing numbers that are defined as a cluster of programs, because they are closely related programs that share common requirements. The Schedule includes a program of the following cluster: Agency Federal Program Assistance Listing Number U.S. Department of Housing Section 8 Project-Based and Urban Development Office Cluster: of Housing Project-Based Rental Assistance 14.195