Notes to SEFA
Federal expenditures for program 10.415 include the $1,147,776 mortgage balance at the beginning of the audit period. Interest Credit Subsidy of $73,981 and Rental Assistance of $152,080. The mortgage balance at September 30, 2025 was $1,117,636.
The accompanying Schedule of Expenditures of Federal Awards has been prepared following the guidance provided by the U.S. Authority of Housing and Urban Development’s Real Estate Assessment Center (REAC).
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Springfield Housing Authority under programs of the federal government for the year ended September 30, 2025. 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 the Springfield Housing Authority, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Springfield Housing Authority.