Title: Loan/loan guarantee outstanding balances
Accounting Policies: The expenditures reported in this Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement. Some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
De Minimis Rate Used: N
Rate Explanation: Caring Heart Rehabilitation and Nursing Center, Inc., Project No. 034-22108, has elected not touse the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan guarantee program listed subsequently is administered directly by Caring HeartRehabilitation and Nursing Center, Inc., Project No. 034-22108, and balances and transactionsrelating to this program are included in Caring Heart Rehabilitation and Nursing Center, Inc.,Project No. 034-22108s basic financial statements. The balance of the loan outstanding as ofJune 30, 2022, consists of: U.S. Department of Housing and Urban Development - Mortgage Insurance Nursing Homes,Intermediate Care Facilities, Board and Care Homes and Assisted Living Facilities Federal A.L. Number 14.129 Amount Outstanding as of June 30, 2022 $22,083,589
Title: Basis of presentation
Accounting Policies: The expenditures reported in this Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement. Some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
De Minimis Rate Used: N
Rate Explanation: Caring Heart Rehabilitation and Nursing Center, Inc., Project No. 034-22108, has elected not touse the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditure of Federal Awards (the Schedule) includes thefederal awards activity of Caring Heart Rehabilitation and Nursing Center, Inc., Project No. 034-22108 under federal programs for the year ended June 30, 2022. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselect portion of the operations of Caring Heart Rehabilitation and Nursing Center, Inc., ProjectNo. 034-22108, it is not intended to, and does not, present the financial position, changes in netassets, or cash flows of Caring Heart Rehabilitation and Nursing Center, Inc., Project No. 034-22108.
Title: Relationship to the basic financial statements
Accounting Policies: The expenditures reported in this Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the Uniform Guidance, wherein certain typesof expenditures are not allowable or are limited as to reimbursement. Some amounts presented inthe Schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
De Minimis Rate Used: N
Rate Explanation: Caring Heart Rehabilitation and Nursing Center, Inc., Project No. 034-22108, has elected not touse the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Under terms and conditions of the Provider Relief Funds (PRF) under the Coronavirus Aid,Relief, and Economic Security (CARES) Act, Caring Heart Rehabilitation and Nursing Center,Inc. is required to report COVID-19 related expenses and lost revenue to the U.S. Department ofHealth and Human Services (HHS). Guidance from HHS has required the reporting of theCOVID-19 related expenses and lost revenue in certain reporting periods based on when fundswere received.As required by HHS, the 2022 Schedule includes PRF of approximately $435,100, which wasreceived by Caring Heart and Rehabilitation and Nursing Center, Inc. prior to June 30, 2022.Caring Heart Rehabilitation and Nursing Center, Inc. recognized as grant income in its statementsof operations and changes in net assets (deficit) for the years ending June 30, 2022 and 2021,$594,789 and $1,108,744, respectively, as the terms and conditions of the PRF grants, weresatisfied by Caring Heart Rehabilitation and Nursing Center, Inc. representing all of the PRFreceived over the two-year period.