Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Trinity Community Housing Corporation, HUD Project No. 071-11231, and is presented on the accrual basis of accounting. 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 Trinity Community Housing Corporation, it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Trinity Community Housing Corporation. The accompanying schedule of expenditures of federal awards includes the federal award activity of Trinity Community Housing Corporation, HUD Project No. 071-11231, and is presented on the accrual basis of accounting. 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 Trinity Community Housing Corporation, it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Trinity Community Housing Corporation.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Trinity Community Housing Corporation has elected not to use the 15-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Corporation has refinanced and is operating Section 223(f)/207 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 Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: