Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity for the year ended December 31, 2025. The information in the schedule of expenditures of federal awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Expenditures reported represented amounts earned.
The balances of loans as of December 31, 2025, for which the continuing compliance requirement is only payments of the principal is the Rural Rental Housing Loans, Assistance Listing Number 10.415 and the amount is $435,062
The Organization has elected not to use the fifteen percent (15%) de minimis indirect cost rate allowed under the Uniform Guidance.