Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Haven Interfaith Housing, Inc. 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). The schedule presents only a selected portion of the operations of North Haven Interfaith Housing, Inc. It is not intended to, and does not present, the financial position, changes in net assets or cash flows of North Haven Interfaith Housing, Inc.
North Haven Interfaith Housing, Inc. has received a U.S. Department of Housing and Urban Development loan guarantee under section 223(f) of the National Housing Act. The insured loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. North Haven Interfaith Housing, Inc. received no additional loans during the year. The balance of the loan guarantee outstanding at June 30, 2024, consists of: Mortgage insurance 14.155 $ 1,333,792