Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of John Marvin Tower, HUD Project No. 024-EE067 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 John Marvin Tower, it is not intended to and does not present the financial position, changes in net assets, or cash flows of John Marvin Tower.
John Marvin Tower has received a HUD 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. John Marvin Tower received no additional loans during the year. The balance of the capital advance outstanding as of September 30, 2025 was $3,756,500.