Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Lifecare Family Health & Dental Center, Inc. (the “Center”) under programs of the federal government for the year ended December 31, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the 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 in reimbursement.
The Center has elected not to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Center did not provide federal awards to subrecipients during the year ended December 31, 2025.
The USDA loan programs listed below are administered directly by the Center, and balances and transactions relating to these programs are included in the Center's basic financial statements. The balance of loans outstanding at December 31, 2025 consist of Community Facilities Programs (Direct Loans) 2006 and 2008, $294,659 and $502,350, respectively.