Notes to SEFA
The accompanying schedule of expenditures of federal awards and schedule of expenditures of state financial assistance (the "schedules") include the federal and state award activity of Reformed Church of Highland Park Affordable Housing Corporation under programs of the federal and state governments for the year ended December 31, 2025. The information in the schedules 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") and State of New Jersey, Department of the Treasury, OMB Policy Circular 25-12-OMB ("NJ Circular 25-12-OMB "). Because the schedules present only a selected portion of the operations of Reformed Church of Highland Park Affordable Housing Corporation, it is not intended to and does not present the financial position, changes in net assets (deficit), or cash flows of Reformed Church of Highland Park Affordable Housing Corporation. Therefore, some amounts presented in these schedules may differ from amounts presented or used in preparation of the basic financial statements.
The Organization has loans outstanding to the New Jersey Department of Community Affairs of $3,300,000 at December 31, 2025. The Organization has loans outstanding to the Middlesex County in the amount of $1,313,000.The Organization has loans outstanding to Monmouth County in the amount of $841,690.