Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of CommonBond Communities and affiliates under programs of the federal government for the year ended December 31, 2025. CommonBond Communities’ consolidated financial statements include the operations of various for-profit entities and nonprofit entities (referred to as Housing Communities). Certain of these entities receive federal awards which are excluded from the Schedule for the year ended December 31, 2025. The for-profit Housing Communities were excluded from the Schedule because for-profit entities are not required to follow Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Such entities followed the requirements of the Consolidated Audit Guide for Audits of HUD Programs (the “Guide”) when required. The nonprofit Housing Communities were excluded from the Schedule because separate audits of these entities were conducted in accordance with the Uniform Guidance. 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 CommonBond Communities and affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CommonBond Communities and affiliates.