Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Daisy Housing Development Fund Corporation under programs of the federal government for the year ended December 31, 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 Daisy Housing Development Fund Corporation, it is not intended to and does not present the financial position, change in net assets, or cash flows of Daisy Housing Development Fund Corporation.
The Project was awarded a capital advance from HUD for the construction of the rental property. It is administered directly by Daisy Housing Development Fund Corporation, and the balance and transactions relating to this program are included in Daisy Housing Development Fund Corporation's basic financial statements. The loan outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. The balance of the loan outstanding at the end of the year was not different, as no re-payments are required.