Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Shingle Creek Senior Housing. 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 (the Uniform Guidance). Because the schedule presents only a portion of the operations of Shingle Creek Senior Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Shingle Creek Senior Housing.
Expenditures reported on the schedule represent the beginning of the year balance of an insured loan issued in 2013 for which the grantor imposes continuing compliance requirements. Proceeds of this loan were used to refinance a previous HUD-insured loan. The balance of the loan outstanding as of December 31, 2025 is $5,075,631.