Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Authority under programs of the federal government for the year ended September 30, 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
The Authority provided no federal awards to subrecipients during the fiscal year ending September 30, 2025.
The Missoula Housing Authority received no federal awards of non-monetary assistance that are required to be disclosed for the year ended September 30, 2025. The Missoula Housing Authority had the following loans, and loan guarantees to be disclosed as of September 30, 2025: Missoula Housing Authority is an operating deficit guarantor as a general partner for Maclay Commons Limited Partnership. This guarantee includes the servicing of outstanding loan balance in the event of a default. As of September 30, 2025, the outstanding loan balance was $478,720. No direct assistance or utilization of this guarantor relationship was noted during the audit period. There were no federally restricted endowment funds required to be disclosed for the fiscal year ended September 30, 2025. The Missoula Housing Authority maintains the following limits of insurance as of September 30, 2025: Property $ 51,090,404 Liability/Umbrella $ 10,000,000 Director & Officers $ 2,000,000 Commercial Auto $ 1,000,000 Worker Compensation Statutory Employee Dishonesty $ 200,000 Computer Fraud $ 500,000 Settled claims have not exceeded the above limits over the past three years.