Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Farmingdale Housing Development Fund Company, Inc., HUD Project Number 012 EH 288. 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 Farmingdale 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 Farmingdale Housing Development Fund Company, Inc.
Farmingdale Housing Development Fund Company, Inc. has received a U.S. Department of Housing and Urban Development direct 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. Farmingdale Housing Development Fund Company, Inc. received no additional loans during the year. The balance of the loan outstanding at September 30, 2025 consists of: Federal Assistance Listing Number: 14.147; Program Name: Section 202 - Supportive Housing for the Elderly: $59,240