Notes to SEFA
The accompanying “Schedule of Expenditures of Federal Awards” includes the federal activity of Adams County Housing Authority and is presented on the accrual basis of accounting and in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
ACHA has seven notes payable to Rural Development at interest rates ranging from 1% to 3.25%. The notes payable are part of a federal loan program. The outstanding balances on the loans are included in the federal expenditures presented in the schedule. The balance of loans outstanding as of December 31, 2025, consists of: Assistance Listing Number 10.447 Program Name : Rural Development Multi-Family Housing Revitalization Demonstration Program Outstanding Loan Balance at December 31, 2025: $1,553,047* Assistance Listing Number: 10.415 Program Name: Rural Rental Housing Loans Outstanding Loan Balance at December 31, 2025: $968,738* (*Includes deferred principal) Interest subsidies totaling $29,836 were received relating to the loans during 2025. The effect of the interest subsidies is to reduce the effective interest rate on the notes payable to approximately 1% over the life of the loan agreements.