Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Mississippi Methodist Senior Services, Inc. and Subsidiaries (the Company) under programs of the federal government for the year ended December 31, 2025, with the exception of Lauderdale Senior Services, Inc. and Hattiesburg Area Senior Services, Inc., both of which had separate single audits. These two subsidiaries are included in the consolidated financial statements but are not included in the Schedule. 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 Company, it is not intended to and does not present the financial position, changes in net positions, or cash flows of the Company.
The federal loan program listed subsequently is administered directly by the Company, and balances and transactions relating to this program are included in the Company's consolidated financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The loan balance outstanding at December 31, 2025, consists of: Assistance Listing Number Program Name Outstanding Balance, December 31, 2025 14.157 Supportive Housing for the Elderly (Section 202) $ 262,285
Lauderdale Senior Services, Inc. is a subsidiary of the Company, however the federal awards are not included in the Schedule. This entity is regulated by the U.S. Department of Housing and Urban Development (HUD) and as such are required to undergo a separate individual single audit. The federal awards expensed by this entity and reported in the respective schedule of expenditures of federal awards for the year ended December 31, 2025, are as follows: CFDA Number Program Name Federal Expenditures Lauderdale Senior Services, Inc. 14.155 Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223(f)) $ 3,192,248 14.856 Lower Income Housing Assistance Program Section 8 Moderate Rehabilitation – Section 8 Project-Based Cluster $ 635,596