he accompanying schedule of expenditures of federal awards includes the federal grant activity of HRCD 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.The organization has not elected to use the de minimis ten percent indirect cost rate.
A reconciliation of federal disbursements/expenses is as follows: Beginning loan balance $1,707 ,797, Loans disbursed for the year ended December 31, 2025 0, Income earned and expended on eligible administrative expenses - 21,573, Balance December 31, 2025 - 1,729,370 The total notes payable to the US Department of Agriculture as of December 31, 2025 are $1,298,349.
A reconciliation of federal disbursements/expenses is as follows: Balance of loans -December 31, 2025 $345,236, Cash Balance at Decemer 31, 2025 120,540. e;ligible administrative expenses 400. Balance at December 31, 2025 - $466,176 Total loan receivables are $345,236 at December 31, 2025
Of the federal expenditures presented in the schedule, Headwaters Resource, Conservation and Development Area, Inc. provided $191,434 of the federal awards to subrecipients.