Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Mercy Manor d/b/a Pondview Estates Affordable Senior Housing (HUD Project No. 092-EE019-“WAH”) (the “Project”) under programs of the federal government for the year ended September 30, 2025. The information in the 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 of Federal Awards (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project.
The Project has a capital advance from HUD under Section 202 of the National Housing Act. The capital advance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Project received no additional advances during the year. The balance of the capital advance outstanding at September 30, 2025, was $2,609,700.
The Project passed no federal awards through to subrecipients.