Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Creative Housing III, HUD Project No. 043-HD048 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, it is not intended to and does not present the financial position, changes in net assets or cash flows of Creative Housing III.
The outstanding balance of loan and loan guarantee programs at December 31, 2025 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,197,200.