Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Parkview Health System, Inc. d/b/a Parkview Health, Parkview Hospital Inc., and Subsidiaries (collectively, the Corporation) under programs of the federal government for the year ended December 31, 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 Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
De Minimis Rate Used: Y
Rate Explanation: The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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.
Title: Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Parkview Health System, Inc. d/b/a Parkview Health, Parkview Hospital Inc., and Subsidiaries (collectively, the Corporation) under programs of the federal government for the year ended December 31, 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 Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
De Minimis Rate Used: Y
Rate Explanation: The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended December 31, 2021 the Corporation received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue (ARP) Rural Distribution (Assistance Listing number 93.498). In accordance with HHS guidance, this funding was included on the Schedule for the year ended December 31, 2022, and recognized as other revenue when received. The Schedule represents distributions in amount of $27,696, received by the Corporation during the year ended December 31, 2021.