Notes to SEFA
The amounts shown as current expenditures represent only the portion of expenses paid for with Federal grants. Actual program costs, including the City's portion, may be more than reported.
The City is a member of the regional HOME Consortium which offers a down payment assistance program. Under this federal program, repayments to the City are considered program revenues and loans of such funds to eligible recipients are considered expenditures. There were no loan funds disbursed to program participants for the year. The amount of loan repayments received for the year was $16,000. Repayments are used to finance new loans through the program. The City administers a CDBG program which offered several different loan programs in the past. Repayments from these defunct loan programs are considered program income and are used to fund eligible grant expenses during the course of the year. The amount of loan repayments received for the year was $22,000 and these funds were used to pay other eligible program expenses included in this Schedule.