The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Authority under programs of the federal government for the year ended December 31, 2025. The information in the 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 operations of the Authority, it is not intended to and does not present the financial position, changes in financial position or cash flows of the Authority. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Authority has not elected to use the fifteen percent de minimis indirect cost rate allowed under the Uniform Guidance for federal programs awarded on or after October 1, 2024 or the ten percent de minimis indirect cost rate for federal programs awarded prior to October 1, 2024.
The total amounts of Capital Fund Program Costs and Advances incurred and earned by the Authority as of and for the year ended December 31, 2025 are provided herein: 501-21 501-22 501-23 501-24 501-25 Totals Budget $ 1,827,214 $ 2,052,906 $ 2,040,088 $ 2,088,339 $ 2,136,175 $ 10,144,722 Advances: Cumulative through 12/31/24 $ 1,818,782 $ 1,551,047 $ 628,523 $ 61,330 $ - $ 4,059,682 Current Year 8,432 464,164 835,303 144,359 - 1,452,258 Cumulative through 12/31/25 1,827,214 2,015,211 1,463,826 205,689 - 5,511,940 Costs: Cumulative through 12/31/24 1,818,782 1,551,047 605,000 - - 3,974,829 Current Year 8,432 464,164 860,086 764,808 72,049 2,169,539 Cumulative through 12/31/25 1,827,214 2,015,211 1,465,086 764,808 72,049 6,144,368 Excess / (Deficiency) $ - $ - $ 1,260 $ 559,119 $ 72,049 $ 632,428
The Farm Labor Housing Loans and Grant Program (Mortgage) listed subsequently is administered by the U.S. Department of Agriculture, and balance and transactions relating to the program are included in the Authority's basic financial statements. 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 loan outstanding at December 31, 2025 consisted of: ALN Program Name Outstanding Balance at December 31, 2025 10.405 Farm Labor Housing Loans and Grant Program (Mortgage) $ 54,130