Notes to SEFA
The schedule expenditures of federal awards includes the federal award activity of Pauahi Block A Nonprofit Housing Corporation (A Nonprofit Corporation) under programs of the federal government for the year ended June 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), 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 Pauahi Block A Nonprofit Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pauahi Block A Nonprofit Housing Corporation.
Pauahi Block A Nonprofit Housing Corporation's HUD insured mortgage was refinanced under Section 223(a)(7) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditure presented in the Schedule. Pauahi Block A Nonprofit Housing Corporation received no additional loans during the year.
Pauahi Block A Nonprofit Housing Corporation's has received U.S. Department of Housing and Urban Development forgivable loans through the HUD-Insured Multifamily Project. The federal expenditures for the loan shown on the schedule include balances of a loan from previous years for which compliance requirement continue.