Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Boston Road Hosing Development Fund Company, Inc., HUD Project No. 012-11299 (the Company) and is presented on the accrual basis of accounting, following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Company, it is not intended to and does present the financial position, changes in net deficit or cash flows of the Company.
The federal loan program listed subsequently is administered directly by the Company and balances and transactions relating to the programs are included in the Company's financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. At November 1, 2023, the outstanding mortgage payable balance is $9,772,674. The mortgage balance outstanding as of November 1, 2023 is included in the federal expenditures presented in the Schedule. The balance of loans outstanding as of October 31, 2024 consists of: Assistance Listing Number Program Name Outstanding Balance, October 31, 2024 14.155 Section 223(f) Mortgage Insurance $ 9,451,086