Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Echols Place II Corporation, HUD Project Number 116-HD028, and is presented on the accrual basis of accounting. 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 Echols Place II Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Echols Place II Corporation.
Echols Place II Corporation has received a U.S. Department of Housing and Urban Development direct loan under Section 811 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Echols Place II Corporation received no additional loans during the year. The balance of the loan outstanding at June 30, 2025 consists of: Federal Assistance Listing Number (ALN) 14.181 Program Name Supportive Housing for Persons with Disabilities - Capital Advance Outstanding Balance at June 30, 2025 $ 1,262,900