Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Chapel Hill Heights, Inc., HUD Project No. 065-35049, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of Chapel Hill Heights, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Entity.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Chapel Hill Heights has received a U.S. Department of Housing and Urban Development mortgage restructuring loan in connection with the Portfolio Reengineering Demonstration Program. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Chapel Hill Heights received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: Outstanding Balance at Program Name Mortgage Restructuring Loan CFDA Number 14.194 Outstanding Balance at December 31, 2025 $ 870,547