Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Baker Park, Inc., HUD Project No. 092-11246 (Baker Park), under programs of the federal government for the year ended December 31, 2025. The information 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 equirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Baker Park, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Baker Park.
Expenditures reported in this schedule include the beginning of the year outstanding mortgage note payable balance. The outstanding balance of the mortgage note payable at December 31, 2025 was $1,566,438.