92c321fa-d621-47ce-b065-8ed43bd0c13b_42026__City_of_Palm_Desert_ACFR_FS_Final_01292026-artifacted.pdf — PaddleOCR-VL (Baidu)

NOTE 3 - NOTES AND LOANS RECEIVABLE (CONTINUED)

Detailed information for these loans is as follows:

Project Name	Accrued Principal Balance Outstanding	Unpaid Interest Outstanding	Total Outstanding as of June 30, 2025	Interest Rate	Maturity Date	Notes
Home Improvement Loans	324,466	-	324,466	N/A	N/A	(1),(2)
Portola Palms Mobile Home Park	62,891	1,887	64,778	3.00%	30 years	(3)
Desert Rose	2,465,156	73,955	2,539,111	3.00%	30-45 years*	(1),(3)
Falcon Crest	3,003,562	90,107	3,093,669	3.00%	30-45 years*	(1),(2)
Acquisition, Rehabilitation, Resale	190,510	5,715	196,225	3.00%	30-45 years	(2)
Habitat for Humanity	327,000	9,810	336,810	7.25%	30 years or 2024	(2)
	6,373,585	181,474	6,555,059

Less: Allowance for Doubtful Accounts (6,555,059)

Balance at June 30, 2025 $ -

* All properties acquired from the former Redevelopment Agency after June 2009 will have a 45 year restrictive covenant and are secured by a deed of trust.

(1) Portion of deferred loans are from funding sources other than Housing Authority.

(2) Loan is payable upon change or transfer of title, refinancing or upon the death of the borrower.

(3) Loan balance and interest will be forgiven at maturity if debtor does not breach the terms and

conditions of either the unit regulatory agreement or note.

NOTE 4 - INTERFUND RECEIVABLES, PAYABLE, ADVANCES AND TRANSFERS

The composition of interfund balances as of June 30, 2025, was as follows:

A. Due To/From Other Funds

Receivable Fund	Payable Fund	Amount
General Fund	Other Governmental Funds	$ 84,095

The amounts loaned from the General Fund to non-major governmental funds and capital properties were to cover cash shortfall at year end as of June 30, 2025.

B. Advances To/From Other Funds

Receivable Fund	Payable Fund	Amount
General Fund	Other Governmental Funds	$ 709,000
Other Governmental Funds	Desert Willow Golf Course	1,598,773
		$ 2,307,773

The General Fund advanced $709,000 to the Energy Independence Special Revenue Fund to payoff the bonds used to fund energy efficiency. The advance to the Energy Independence Special Revenue Fund is repaid as the Energy Independence Program (EIP) loans are repaid. See Note 3 for more information on these loans.