Notes to SEFA
The mortgage balance at the beginning of the year is included in the federal expenditures presented in the Schedule. The loan outstanding at June 30, 2025 consists of a Section 223(f) HUD insured loan totaling $661,679.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Orchard Valley Apartments, Inc. (the Organization) under programs of the federal government for the year ended June 30, 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 the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.