Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of MHA Housing of Western North Carolina, Inc. 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 MHA Housing of Western North Carolina, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of MHA Housing of Western North Carolina, Inc.
MHA Housing of Western North Carolina, Inc. has a mortgage loan insured by the U.S. Department of Housing and Urban Development under Section 223(f) of the National Housing Act. The Assistance Listing Number 14.155 (Mortgage insurance for the purchase or refinancing of existing multifamily housing projects) amount of $1,016,761 represents the outstanding loan balance at the beginning of the audit period. The outstanding loan balance at September 30, 2025, the end of the audit period, was $975,841.