Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of Pennley Supportive Housing for the Elderly, Inc., HUD Project No:033-EE-095, under programs of the federal government for the year ended August 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 Pennley Supportive Housing for the Elderly, Inc. , it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pennley Supportive Housing for the Elderly Inc. For the year ended August 31, 2025, no awards were passed through to subrecipients.
Pennley Supportive Housing for the Elderly, Inc. received a U.S. Department of Treasury passthrough loan from the Urban Redevelopment Authority of Pittsburgh in the amount of $662,385. As of August 31, 2025, total drawdowns were $265,190. In addition, pending drawdowns as of August 31, 2025 were $302,877 for costs incurred during 2025. As of August 31, 2025, total expenditures of the loan were $568,067. As of August 31, 2025, the loan balance was $265,190.
Pennley Supportive Housing for the Elderly, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Pennley Supportive Housing for the Elderly, Inc. received no additional loans during the year. The balance of the loan outstanding at August 31, 2025 consists of: Assistance Outstanding Listing Balance at Number Program Name August 31, 2025 14.157 Supportive Housing for the Elderly - Section 202 direct loan $ 2,678,400