Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: 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 as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Broadlawns Medical Center under programs of the federalgovernment for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of 2 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 Broadlawns Medical Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Broadlawns Medical Center.
Title: RECONCILIATION OF THE SCHEDULE AND FINANCIAL STATEMENTS
Accounting Policies: 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 as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The financial statements reflect revenue recognized from FEMA of $-0- and $1,152,593 forthe years ended June 30, 2022 and 2021, respectively. The Schedule includes FEMA grantfunds of $1,152,593 in accordance with the requirements of the compliance supplement forassistance listing number 97.036.