Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Tanglewood Apartments, Inc., Inc., 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 Tanglewood Apartments, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Tanglewood Apartments, Inc. The section 202 capital advance has an outstanding balance due of $1,168,400. Due to the continuing compliance requirements related to this loan, the entire balance has been considered a current year federal award in accordance with Uniform Guidance.