Notes to SEFA
The accompanying Schedule of Expenditure of Federal Award (the “Schedule”) includes the federal award activity of Centre Care, Inc. d/b/a Centre Care Rehabilitation and Wellness Services (the “Organization”) under programs of the Federal Government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, represent the statements of financial position, operations, changes in net assets, or cash flows of the Organization. All financial awards received directly from financial agencies, as well as federal financial awards passed through other governmental agencies are included on the Schedule.
The federal loan guarantee program listed subsequently is administered directly by the Organization, and balances and transactions relating to this program are included in the basic financial statements of the Organization. The balance of the loan outstanding as of December 31, 2024, consists of: