Notes to SEFA
The Entity received a HUD Modification and Consolidation Agreement under the HUD capital advance program under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Entity received no additional loans or capital advances during the year. The balance of the capital advance outstanding at December 31, 2025 was $12,534,980.
The Schedule includes the federal award activity of the Entity under programs of the federal government for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net asset (deficit) or cash flows of the Entity.