Notes to SEFA
The Entity has received a HUD mortgage under Section 223(f) of the National Housing Act. The mortgage balance outstanding at the beginning of the year is included in the federal expenditures presented in this Schedule. The Entity received no additional loans during the year. The balance of the mortgage outstanding at June 30, 2025 is $37,323,400.
The Schedule includes the federal award activity of the Entity under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.