Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal financial assistance programs of Pinegrove Development Corporation (the Corporation), HUD Project No. 024-EE065-WAH. Financial assistance received directly from federal agencies is included in the Schedule. 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 portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
The Supportive Housing for the Elderly program expenditures include an outstanding capital advance of $3,358,900 at March 31, 2026.