Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: No funds were identified as having been provided to subrecipients by the Hospital and accordingly, no funds identified in the Schedule of Expenditures of Federal Awards are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Crawford Memorial Hospital’ (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the applicable 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 of expenditures of federal awards 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.
Title: NOTE 3 RECONCILATION OF SEFA AND FINANCIAL STATEMENTS
Accounting Policies: No funds were identified as having been provided to subrecipients by the Hospital and accordingly, no funds identified in the Schedule of Expenditures of Federal Awards are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance.
The consolidated financial statements reflect revenue recognized from Provider Relief Grants of approximately $400,000 and $1,262,000 for the years ended April 30, 2023 and 2022, respectively. The SEFA includes COVID-19 Provider Relief Fund and American Rescue Plan Rural Distribution payments of $1,262,183 that were received in Period 4 in accordance with the requirements of the compliance supplement for assistance listing number 93.498.