Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lone Star Housing and Community Development Corporation and Subsidiaries, under programs of the federal government for the year ended December 31, 2025. The information in the 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 Lone Star Housing and Community Development Corporation and Subsidiaries, it is not intended to and does not present the statements of financial position, changes in net assets, and cash flows of Lone Star Housing and Community Development Corporation and Subsidiaries.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance. Lone Star Housing and Community Development Corporation and Subsidiaries has elected not to use the 15 percent de minimis indirect cost rate.
Lone Star Housing and Community Development Corporation and subsidiaries have received direct loans and capital grant advances under multiple federal programs as listed below. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. Lone Star Housing and Community Development Corporation and subsidiaries received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists of: Federal CFDA Number 14.228 Program Name Community Development Block Grant Disaster Recovery Outstanding Balance at December 31, 2025 is $ 20,977,714.