Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Chicago Apartments LLC (the LLC) 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the LLC, it is not intended to and does not present the financial position, changes in net assets or cash flows of the LLC.
Expenditures reported as the HUD insured mortgage represent the beginning of the year balance of a mortgage received in previous years for which the grantor imposes continuing compliance requirements. The balance of the mortgage as of December 31, 2025 is $784,459.