Notes to SEFA
The Entity received a U.S. Department of Housing and Urban Development/Federal Housing Authority loan under section 223(f) 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. The Entity received no additional loans during the year. The loan balance outstanding at December 31, 2025 was $16,949,734.
The Schedule includes the federal award activity of the Entity 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Clarkstown Middlewood HDFC, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.