Notes to SEFA
The accompanying schedule of expenditures of federal awards (The "Schedule") includes the federal award activity of Akron Care Center Inc., and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Akron Care Center, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Akron Care Center, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance.
Akron Care Center, Inc. has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
Akron Care Center, Inc. does not have grants passed through to subrecipients.
Akron Care Center, Inc. has received a U.S. Department of Agriculture Community Facilities Loans. The loan balance outstanding at the beginning of the audit period is included in the federal expenditures presented in the Schedule. Akron Care Center, Inc. received no additional loans during the audit period. The following loan balances were outstanding at June 30, 2025: Assistance Listing Amount Number Outstanding Community Facilities Loans & Grants 10.766 $ 3 ,209,528