Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Caring Heart Rehabilitation and Nursing Center, Inc, Project No. 034-22108 under programs of the federal government for the year ended June 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 Caring Heart Rehabilitation and Nursing Center, Inc, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Caring Heart Rehabilitation and Nursing Center, Inc, Project No. 034-22108.
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 and OMB Circular A-122, Cost Principles for Non-profit Organizations where in certain types of expenditures are not allowable or are limited as to reimbursement.
The federal loan guarantee program listed subsequently is administered directly by Caring Heart Rehabilitation and Nursing Center, Inc, Project No. 034-22108, and balances and transactions relating to this program are included in Caring Heart Rehabilitation and Nursing Center, Inc Project No. 034-22108’s basic financial statements. The balance of the loan outstanding as of June 30, 2025 was $19,872,254. See the notes to the SEFA for the table.
Caring Heart Rehabilitation and Nursing Center, Inc., Project No. .03-22108 has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Project has evaluated subsequent events and transactions for potential recognition or disclosure in the Schedule of Expenditures of Federal Award through September 18, 2025, the date the Schedule of Expenditures of Federal Awards was available to be issued and concluded that there were no subsequent events that would require a disclosure.