Notes to SEFA
Expenditures reported on 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
HOME Program loan proceeds were distributed to CentrePointe Limited Partnership in 2015, Wyoming National, LLC in 2006, and the Wyoming Community evelopment Authority in 2025. The HOME Program funds were used by the entities to construct low-income housing units. The Authority is the managing member of CentrePointe Limited Partnership and is a 0.01% owner. The properties constructed by Wyoming National, LLC and the Wyoming Community Development Authority were acquired by the Authority along with the related HOME loan. The funds advanced are repayable to the U.S. Department of Housing & Urban Development (HUD) in the event that the Authority or its sub-recipient (CenterPointe Limited Partnership) does not maintain the constructed property for low-income housing for 20 years. If the terms of the agreement are met, the funds are not required to be paid back to HUD. The original balance of the HOME Program loans were $1,050,000 for CentrePointe Limited Partnership, $392,937 for Wyoming National, LLC, and $1,000,000 for the Wyoming Community Development Authority.
During the fiscal year ended March 31, 2026, the Authority made no payments to sub-recipients.