Notes to SEFA
The accompanying schedule presents the expenditures incurred (and related awards received) by the Housing Authority of the City of Calexico (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule.
The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The information in this schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements
The Authority elected to not use the 10% de minimums indirect cost rate as allowed in the Uniform Guidance, section 414.
The Authority has a promissory note with HUD Funding. In accordance with the Uniform Guidance both the rental assistance and the outstanding loan balances are reported as federal expenditure in the accompanying schedule of federal awards. Balances of loans were included in the schedule as follows: Balance at Balance at Fedearl Program Loans ALN 07/01/24 Additions Deletions 06/30/25 Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest 14.135 $ 506,318 $ - $ (51,841) $ 454,477 $ 506,318 $ - $ (51,841) $ 454,477