Notes to SEFA
BUILD, Inc. and BUILD Support Corporation did not have any outstanding federal loans or loan guarantees or insurance at June 30, 2024 and did not receive any federal non-cash awards during the year ended June 30, 2024.
Subsequent to the issuance of BUILD, Inc. and BUILD Support Corporation’s audited financial statements and Schedule of Expenditures of Federal Awards dated May 2, 2025, management determined that expenditures under the Coronavirus State and Local Fiscal Recovery Fund (ALN 21.027) had been understated by $1,071,991 and expenditures under Community Development Grant – Cares -CDBG Cluster (ALN 14.218) had been understated by $35,732 due to not reporting some of City of Chicago grants that were funded by federal funds. The SEFA for the year ended June 30, 2024 has been restated to include these additional expenditures. As a result, the total federal expenditures increased from $6,282,531 to $7,390,254.