Notes to SEFA
Major programs have been determined 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).
The Corporation has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advance is included in the federal expenditures presented in the schedule. The Corporation received no additional capital advances or loans during the year. The balance of the capital advance at December 31, 2025 was $5,256,000.
All subsequent events related to the major programs were evaluated through March 20, 2026, the date the accompanying reports were available to be issued. No significant event was noted that required adjustment or disclosure in the accompanying reports.