The Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of Avesta Housing Development Corporation, including federal awards passed through other government agencies, except for federal awards expended by certain entities affiliated with the Corporation provided by the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture. These federal award programs have been audited and reported on, in accordance with the provisions of Uniform Guidance, when required, at the entity level. Therefore, such federal award expenditures have not been included on this schedule. Entities subject to Uniform Guidance and the amounts included on their respective Schedules of Expenditures of Federal Awards are as follows:
Entity: Noble Housing Corporation Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Program Title: Supportive Housing for the Elderly Assistance Listing Number: 14.157 Grant or Award Amount: 1,431,893 Expenditures: 1,431,893
Entity: Jordan Bay Place Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Program Title: Supportive Housing for the Elderly Assistance Listing Number: 14.157 Grant or Award Amount: 1,894,120 Expenditures: 1,894,120
Entity: Five Graham Street Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Program Title: Supportive Housing for the Elderly Assistance Listing Number: 14.157 Grant or Award Amount: 2,804,502 Expenditures: 2,804,502
Entity: Edgecomb Woods Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Program Title: Supportive Housing for the Elderly Assistance Listing Number: 14.157 Grant or Award Amount: 2,248,768 Expenditures: 2,248,768
Entity: South Windham Housing Corporation Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Program Title: Supportive Housing for the Elderly Assistance Listing Number: 14.157 Grant or Award Amount: 3,183,861 Expenditures: 3,183,861
Entity: Hill Street Terrace Housing Corporation Federal Grant/Pass-Through Grantor: U.S Department of Housing and Urban Development Cluster: Section 8 Project-Based Cluster Program Title: Project Based Rental Assistance (PBRA) Assistance Listing Number: 14.195 Grant or Award Amount: 797,631 Expenditures: 797,631
Entity: Hill Street Terrace Housing Corporation Federal Grant/Pass-Through Grantor: U.S Department of Agriculture Program Title: Rural Rental Housing Loans Assistance Listing Number: 10.415 Grant or Award Amount: 3,373,212 Expenditures: 3,373,212
Financial assistance received directly from federal agencies as well as federal financial assistance passed through state agencies and other institutions are included on the schedule.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200:516, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the consolidated financial statements.
Federal expenditures for Program 10.415 represent the loan balance as of the beginning of the audit period. The balances at December 31, 2025 and 2024 were $791,645 and $800,180, respectively.