Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Hendry Regional Medical Center (Medical Center) 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, Cost Principles, and Audit Requirements for Federal Audits. Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the Medical Centers operations, it is not intended to and does not present the financial position or changes in net position the Medical Center. The Medical Center has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Grant monies received and distributed by the Medical Center are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. The Medical Center does not believe that such allowances, if any, would have a material effect on the financial position of the Medical Center. As of February 20, 2023, there were no material questioned or disallowed costs as a result of grant audits in process or completed. The Medical Center reported awards related to Provider Relief Fund (PRF) on the accompanying schedule of expenditures of federal awards. The PRF expenditures are presented based on the Reporting Period 2 regarding payments received from July 1, 2020 to December 31, 2020. There were no expenditures for Reporting Period 3, which would have also been included on the accompanying schedule or expenditures of federal awards. The Medical Center reported $0 in donated, federally funded personal protective equipment.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.