Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Southwest Mississippi Regional Medical Center (the Medical Center) under programs of the federal government for the year ended September 30, 2022. The information in the 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 Medical Center, it is not intended to and does not present the net position, changes in net position, or cash flows of the Medical Center.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The balance of loans outstanding at September 30, 2022 for the Community Facilities Loans and Grants Cluster (Federal Assistance Listing Number 10.766) was $18,031,621. The outstanding balance of loans at the beginning of the year are included in the federal expenditures presented in the Schedule.