Title: Note 6: Loan/loan guarantee outstanding balances
Accounting Policies: Note 2: 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 the reporting period 1, due September 30, 2021.
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 loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. There are no new loans received during the year ending March 31, 2022. The amount outstanding below represents the balance outstanding on the loans at the end of year as of March 31, 2022. Balances outstanding at the end of the audit period were $13,957,500.
Title: Note 1: Basis of Presentation
Accounting Policies: Note 2: 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 the reporting period 1, due September 30, 2021.
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 (Schedule) includes the federal award activity of Salem Township Hospital (the Hospital). 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 Salem Township Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Salem Township Hospital.
Title: Note 4: Subrecipients
Accounting Policies: Note 2: 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 the reporting period 1, due September 30, 2021.
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 Hospital passed no federal awards through to subrecipients.
Title: Note 5: Interest Earned on Provider Relief Funds
Accounting Policies: Note 2: 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 the reporting period 1, due September 30, 2021.
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.
PRF reported on the Schedule includes $488 of interest earned on PRF proceeds and used for allowable purposes.