Notes to SEFA
Title: Loan/ Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance as the Corporation does not have indirect costs.
LGARPa, Corp. d/b/a LGAR Health and Rehabilitation Center, FHA Project No. 033-43136, has an outstanding loan balance of $4,836,930 with continuing compliance requirements as of December 31, 2023. The loan program is included in the federal expenditures presented in the Schedule. The amount of federal expenditures represents the outstanding principal balance as of January 1, 2023.
Title: Tax Identification Number
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance as the Corporation does not have indirect costs.
The Organization operates as a nonprofit skilled nursing facility under the following tax identification number: 25-1735895.