The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2026. The information in the 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available. Homewise elected not to use the 15% de minimis indirect cost rate.
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows: 2026 Total 2026 expenditures per the Schedule $ 5,375,845 Loans and loan guarantees (ending balance March 31, 2025): Capital Magnet Fund (ALN #21.011) 6,930,707 CDFI Financial Assistance (ALN #21.020) 1,300,044 CDFI Rapid Response Program (ALN #21.024) 1,570,196 CDFI Bond Guarantee Program (ALN #21.014) 12,796,049 CDFI Equitable Recovery Program (ALN #21.033) 2,397,204 Economic Development Initiative, Community Project Funding, and Miscellaneous Grants (ALN #14.251) 600,000 Adjusted total expenditures per the Schedule $ 30,970,045
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 6,930,707 Loans deployed 2,323,747 Less principal payments (121,744) Ending balance, March 31, 2026 $ 9,132,710
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 1,300,044 Loans deployed - Less principal payments (25,663) Ending balance, March 31, 2026 $ 1,274,381
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 1,570,196 Loans deployed - Less principal payments (48,397) Ending balance, March 31, 2026 $ 1,521,799
Bonds outstanding at the beginning of the year and bond funding drawn during the year are included in the federal expenditures presented in the Schedule. The balance of bonds outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 12,796,049 Loans deployed - Less principal payments (421,016) Ending balance, March 31, 2026 $ 12,375,033
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 2,397,204 Loans deployed - Less principal payments (31,290) Ending balance, March 31, 2026 $ 2,365,914
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2026, consists of: Beginning balance, March 31, 2025 $ 600,000 Loans deployed - Less principal payments - Ending balance, March 31, 2026 $ 600,000