Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Lone Pine Economic Development Corporation, Case No. 787817029 01-6, under programs of the federal government for the year ended December 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 the selected portion of the operations of Lone Pine Economic Development Corporation, it is not intended to and does not present the financial position, changes in deficit in net assets, or cash flows of Lone Pine Economic Development Corporation.
The mortgage payable represents a permanent building loan provided by Rural Rental Housing. The balance outstanding on the mortgage as of December 31, 2025 totaled $1,549,529.