Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Corinthian Square Senior Citizens Housing Corporation and is presented on the accrual basis of accounting. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Corinthian Square Senior Citizens Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Corinthian Square Senior Citizens Housing Corporation.
Corinthian Square Senior Citizens Housing Corporation has received a U.S. Department of Housing and Urban Development insured loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Corinthian Square Senior Citizens Housing Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: Federal Assistance Listing Number - 14.157; Program Name - Supportive Housing for the Elderly; Outstanding Balance at December 31 2025 - $2078373