Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Crowley's Ridge Development Council, Inc. under programs of the federal government for the year ended April 30, 2026. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Crowley's Ridge Development Council, Inc. participates in the Home Investment Partnership Program (Assistance Listing Number 14.239) administered by the Arkansas Development Finance Authority. This program provides loans and assistance to expand the supply of affordable housing for low income families and individuals through activities such as homebuyer assistance, rental hosing development, and tenant- based rental assitance. In accordance with 2 CFR 200.502, the Schedule of Expenditures of Federal Awards includes: - The value of new loans made or received during the audit period, plus - The balance of loans from previous years at the beginning of the audit period for which the Federal Government imposes continuing compliance requirements, plus - Any interest subsidy, cash, or administrative cost allowance received. The outstanding loan balance of the HOME program as of April 30, 2026 was $1,669,638.