The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal award and state financial assistance activities of Pinellas Affordable Living, Inc. (the “Organization”). 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”) and Chapter 10.650, Rules of the State of Florida Auditor General (Chapter 10.650). Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
The Organization has the following loan balances: Additional Loan Assistance Original Funding/ Listing Loan Balance at (Payments Balance at Number Description Amount July 1, 2024 Made) June 30, 2025 14.218 Community Development Block Grant Cluster Entitlement/Special Purpose Grants: Owl's Nest $ 12,000 $ 12,000 $ - $ 12,000 Ranch at Pinellas 400,000 353,820 ( 11,545) 342,275 14.239 Home Investment Partnerships Program: Bayou Pass 111,000 111,000 - 111,000 Broadwater III 500,000 500,000 - 500,000 Broadwater IV 110,000 110,000 - 110,000 Clam Bayou 399,294 399,294 - 399,294 Evergreen Village 588,334 588,334 - 588,334 Founder's Point 596,217 357,488 238,729 596,217 Founder's Point 235,244 - 235,244 235,244 Poynter Preserves 1,175,000 1,175,000 - 1,175,000 Poynter Preserves 965,790 965,790 - 965,790 Poynter Preserves III 481,093 481,093 - 481,093 Poynter Preserves III 479,296 479,296 - 479,296 Twin Brooks II & III 1,641,199 1,641,199 - 1,641,199 Whispering Pines 833,559 673,539 160,020 833,559 Total Federal $ 8,528,026 $ 7,847,853 $ 622,448 $ 8,470,301 Original Additional CSFA Loan Balance at Loan Balance at Number Description Amount July 1, 2024 Funding June 30, 2025 40.901 State Housing Initiatives Partnership Program ("SHIP"): Butterfly Grove $ 469,621 $ 469,621 $ - $ 469,621 Ranch Phase II 926,696 926,696 - 926,696 Total State $ 1,396,317 $ 1,396,317 $ - $ 1,396,317
Expenditures incurred by the Organization are subject to audit and possible disallowance by federal or state agencies. Management believes that, if audited, any adjustments for disallowed expenses would be immaterial.