Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: The entity has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Pocahontas Community Hospital under programs of the federal government for the year ended June 30, 2023. 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 Pocahontas Community Hospital, it is not intended to and does not present the financial position, changes in financial position or cash flows of Pocahontas Community Hospital.
Title: Subrecipients
Accounting Policies: Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: The entity has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
No federal grant awards were passed through to subrecipients during the year ended June 30, 2023
Title: Loan Program
Accounting Policies: Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: The entity has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures on this Schedule consist of the beginning of the year outstanding loan balance of the Hospital's Rural Economice Development Loans and Grants (REDLG Loans) plus advances made on the loans during the year. The Hospital's outstanding loan balances on the REDLG Loans as of June 30, 2023 were $1,037,681.