Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal award activity of Mountain Housing Opportunities, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2025 as well as the state award activity for the year ended December 31, 2025. 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
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.
The Organization has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan programs listed subsequently are administered directly by the Organization, and balances and transactions relating to these programs are included in the Organization’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2025 consists of: Assistance Listing Number Program Name Outstanding Balance at December 31, 2025 14.239 HOME Investments Partnerships Program $ 1,038,801 10.415 Rural Rental Housing Loans 2,086,094 $ 3,124,895