Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”), includes the federal award activity of TCOA Elderly Housing, Inc. under programs of the federal government for the year ended December 31, 2025. 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of TCOA Elderly Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of TCOA Elderly Housing, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
TCOA Elderly Housing, Inc. has not elected to use 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
TCOA Elderly Housing, Inc. received a capital advance from HUD for construction of multifamily residual housing facility secured by a mortgage note. The note balance outstanding is included in the federal expenditures presented in Schedule 6. TCOA Elderly Housing, Inc. received no additional notes or loans during the year. The balance of the note outstanding as of December 31, 2025 consists of: Assistance Outstanding Listing Program Balance as of Number Name December 31, 2025 14.157 HUD 202 Capital Advance $4,082,400