Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the expenditures on an accrual basis of Crescent Terrace, Inc. (A California non-profit public benefit corporation) under programs of the federal government for the year ended December 31, 2025. The information in the Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements. For purposes of the Schedule, federal awards include all subawards to Crescent Terrace, Inc. by nonfederal organizations pursuant to federal grants, contracts and similar agreements.
The following represents the amount of outstanding loans identified by AL No. All loans are provided by HUD and are included in the Schedule. Prior year loans with Loans continuing Total AL received compliance outstanding No. Program title in 2025 requirements loans 14.218 Community Development Block Grants $ - $ 600,000 $ 600,000 14.239 HOME Investment Partnerships Program $ - $ 550,000 $ 550,000