Notes to SEFA
Title: Federal Loan Disclosure
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 to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reporting as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan programs listed subsequently are administered directly by the Hospital, and balances and transactions relating to these programs are included in the Hospitals basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2022, consists of: Assistance Listing Number: 14.128 - MORTGAGE INSURANCE_HOSPITALs - Outstanding Balance at June 30, 2022 $1,941,330. Assistance Listing Number: 14.151 - SUPPLEMENTAL LOAN INSURANCE_MULTIFAMILY RENTAL HOUSING - Outstanding Balance at June 30, 2022 $5,949,347.
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 to reimbursement. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reporting as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Hospital 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 (the Schedule) includes the federal award activity of the Hospital under programs of the federal government for the year ended June 30, 2022. 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 the Hospital, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Hospital.