Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Katherine Luther Residential Health Care & Rehabilitation Center, Inc. (the Home), HUD Project No. 014-22107 and FHA Project No. 014-22188 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, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Katherine Luther Residential Health Care & Rehabilitation Center, Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Katherine Luther Residential Health Care & Rehabilitation Center, Inc.
Insured Mortgage In March 2025, the Organization refinanced HUD Project No. 014-22107 into FHA Project No. 014-22188 loan in the amount of $4,886,400. The outstanding balance at December 31, 2025 was $4,759,170. Indirect Costs Katherine Luther Residential Health Care & Rehabilitation Center, Inc. has elected to not use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.