Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of MRC Housing Development Fund Company, Inc. 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 MRC Housing Development Fund Company, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of MRC Housing Development Fund Company, Inc.
MRC Housing Development Fund Company, Inc. has received a U.S. Department of Housing and Urban Development Capital Advance under Section 202 of the National Housing Act. The Capital Advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. MRC Housing Development Fund Company, Inc. received no additional Capital Advances during the year. The balance of the Capital Advance 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 - $5065800