Views of responsible officials Omissions in the SEFA maintained during 2025 primarily pertain to construction lending by the City of New York’s Department of Housing Preservation and Development that utilized underlying federal funding. Management inadvertently only presented the construction lending in the years of expenditure. Such expenditures were duly reported upon and audited during the years of expenditures and were maintained within the financial records of Southwest 141 Street Housing Development Fund Company, Inc. but were subsequently omitted from the SEFA in the years following. Management concurs with Finding No. 2025-001 and, as of March 2026, management has enhanced its internal controls and augmented its personnel to ensure that such reporting under Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards is compliant, complete, and accurate for the 2025 SEFA and going forward.