Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: No funds were identified as having been provided to subrecipients by the Organization and accordingly, no funds identified in the schedule of expenditures of federal awards are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance. The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Great River Health System, Inc. and Subsidiaries (the Organization) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the applicable 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 of expenditures of federal awards presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: RECONCILATION OF SEFA AND FINANCIAL STATEMENTS
Accounting Policies: No funds were identified as having been provided to subrecipients by the Organization and accordingly, no funds identified in the schedule of expenditures of federal awards are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance. The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The financial statements reflect revenue recognized from the Provider Relief Fund ofapproximately $5,615,295 and $5,608,869 for the years ended June 30, 2022 and 2021,respectively. The SEFA includes Provider Relief Funds of $8,474,531 that were received in Periods 2 and 3 in accordance with the requirements of the compliance supplement for assistance listing number 93.498.