Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Valley Community Development Corporation and Subsidiaries (Valley) under programs of the Federal government for the year ended December 31, 2025. 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). Because the Schedule presents only a selected portion of the operations of Valley, it is not intended to and does not present the financial position, changes in net assets or cash flows of Valley.
There were no passed through federal awards to subrecipients by Valley during fiscal year 2025.
Valley received loans under the HOME loan programs and CDBG loan programs in prior years, which include continuing compliance requirements. The amounts reported on the Schedule reflect the outstanding principal and interest as of January 1, 2025. There were no changes to the outstanding balances during fiscal year 2025. As of December 31, 2025, the balances of the loans and advances outstanding are as follows: CDBG $350,000 HOME $2,207,308 Total $2,557,308