Notes to SEFA
In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitation which are not included as federal awards.
These federal awards were utilized in a prior year for the acquisition of real property and related development costs. Included is a federal loan which is included in long-term debt as follows: Program Federal Assistance Listing Number Original Loan Amount Outstanding Loan Balance Home Investment Partnerships Program 14.239 $ 350,000 (1) $ 13,480 (1) Additionally, in a prior year, the Luzerne County Office of Community Development provided $124,447 in the form of a noninterest bearing deferred payment loan ($20,513 was provided during the year ended June 30, 2001 and $103,934 was provided prior to that year) with respect to this same property in Luzerne County. The deferred payment loan will be forgiven in its entirety contingent upon compliance with all terms and conditions of the loan agreement and upon final satisfaction of this indebtedness. At June 30, 2025, the deferred payment loan has been recorded as Security Deposits and Other Liabilities.