Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mercy Retirement and Care Center (MRCC) under a program of the federal government for the year ended September 30, 2025. 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 Mercy Retirement and Care Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of Mercy Retirement and Care Center.
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.
MRCC has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.
MRCC did not provide any federal awards to subrecipients during the year ended September 30, 2025.