Notes to SEFA
2. For loan programs, federal awards expended are reported in accordance with 2 CFR 200.502(b) and include the beginning-of-year balance of loans with continuing compliance requirements and any current-year loan-related subsidies (such as interest subsidy), plus any new loans made during the year. For the Rural Rental Housing Loan (Assistance Listing 10.415), the Authority had no new loan advances during the year ended December 31, 2025; amounts reported on the SEFA therefore consist of the beginning-of-year loan balance for which the federal government imposes continuing compliance requirements, plus current-year principal and interest subsidy. The outstanding principal balance of the Rural Rental Housing Loan at December 31, 2025, was $1,034,094.54.