Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for reporting period 2 and reporting period 3.
De Minimis Rate Used: N
Rate Explanation: Pershing County Hospital District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Pershing County Hospital District has outstanding loans with the U.S. Department of Agriculture. The loan balances outstanding at the beginning of the year were included in the federal expenditures presented in the Schedule. Pershing County Hospital District received no additional loans during the year. The balance of the loans outstanding at June 30, 2022, are $5,999,976.
Title: Basis of Presentation
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for reporting period 2 and reporting period 3.
De Minimis Rate Used: N
Rate Explanation: Pershing County Hospital District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pershing County Hospital District. 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 (the Uniform Guidance). Because the schedule presents only a selected portion of the operations of Pershing County Hospital District, it is not intended to and does not present the financial position, changes in net position, or cash flows of Pershing County Hospital District.
Title: Subrecipients
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for reporting period 2 and reporting period 3.
De Minimis Rate Used: N
Rate Explanation: Pershing County Hospital District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Pershing County Hospital District passed no federal awards through to subrecipients.
Title: Interest Earned on Provider Relief Funds
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (PRF), expenditures on the Schedule are reported on the accrual basis of accounting and 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. The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and amounts reported in the PRF portal for reporting period 2 and reporting period 3.
De Minimis Rate Used: N
Rate Explanation: Pershing County Hospital District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
PRF reported on the Schedule included $5 of interest earned on PRF proceeds and used for allowable purposes.