Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of Providence Housing Development Corporation and Affiliates under programs of the federal government for the year ended December 31, 2025. 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 Providence Housing Development Corporation and Affiliates, it is not intended to and does not present the financial position, change in net assets, or cash flows of Providence Housing Development Corporation and Affiliates.
The HUD insured mortgages listed above are administered directly by Providence Housing Development Corporation and Affiliates, and the balances and transactions relating to these programs are included in Providence Housing Development Corporation and Affiliates' basic financial statements. The loans/capital advance outstanding at the beginning of the year and loans/capital advances made during the year are included in the federal expenditures presented in the schedule. The balance of the loans/capital advances outstanding at December 31, 2025 were: AL Number Program Name Outstanding Balance 14.239 HOME Investment Partnership Program-Loan $12,047,583 14.157 Supportive Housing for the Elderly-Loan $3,842,700 14.218 Community Development Block Grants $1,050,000
The USDA loan programs listed below are administered directly by Providence Housing Development Corporation and Affiliates, and the balance and transactions relating to these programs are included in Providence Housing Development Corporation and Affiliates' basic financial statements. The loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the schedule. The balance of the loans outstanding at December 31, 2025 were: AL Number Program Name Outstanding Balance 10.415 Rural Rental Housing Loans $3,310,857