HUD insured mortgage – loan balance on the SEFA,

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#7378 Closed public Multifamily Les Sparks
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I see that under Uniform Guidance, a project with a loan from HUD has to show the beginning balance of the loan on the SEFA, and disclosed the ending balance on the notes to the SEFA. Is a HUD insured mortgage shown the same way, or do they show the ending balance on the SEFA?
Kathy Christensen

From Les Sparks:

Maybe I am a little confused as you mentioned a SEFA. Although both for profit and non-profit audits are determined by the amount of Federal awards, there is only a SEFA for the Uniform audits. SO, I hope your question is – “Is the determination of Federal awards the same under Uniform Guidance and the HUD Audit Guide?”

The answer to that question is no. Uniform Guidance requires beginning of the year. The HUD Audit Guide is the end of the year. Also, there is no required footnote for the mortgage balance as there is no SEFA under the for-profit, HUD Audit Guide audit.

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