Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Spectra Organization, Inc. (The Organization) 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 2 CFR 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
The amounts recorded on the Schedule represent loans received from the City of West Palm Beach as a pass-through of funding from HUD in the amount of $1,650,000 in 2025. The Organization received $1,085,179 of funding for the HOME Investment Partnerships Program and $564,821 for the Housing Opportunities of Persons with AIDs program, all of which are outstanding as of December 31, 2025.