Notes to SEFA
The schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority and is presented on the accrual basis of accounting. The information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
The Housing Authority did not elect to use the de minimis indirect cost rate allowed under Uniform Guidance.
The total outstanding loan balance at December 31, 2025, was $12,303,839. The loans were provided by the U.S. Department of Housing and Urban Development for the Jordan Downs Redevelopment and are not subject to federal continuing compliance requirements and are not reported on the Schedule.