Notes to SEFA
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.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Memorial Medical Center, Inc. d/b/a Tamarack Health Ashland Medical Center (the Hospital) under programs of the federal government for the year ended September 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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.
Title: Provider Relief Fund
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.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Under the terms and conditions of the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution program (PRF) (ALN 93.498), the Hospital is required to report COVID-19 related expenses and lost revenue to the U.S. Department of Health and Human Services (HHS). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received.
The September 30, 2023 Schedule includes PRF expenditures of $2,199,412. The Hospital received PRF distributions of $2,199,412 from January 1, 2021 to December 31, 2021, and recognized as revenue $2,199,412 in its September 30, 2022 financial statements, respectively, as the terms and conditions of the PRF grant were satisfied. HHS requires the $2,199,412 be reported on the September 30, 2023, Schedule.
Title: Fair Market Value of Donated Personal Protective Equipment (Unaudited)
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.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended September 30, 2023, the Hospital did not receive significant donated personal protective equipment from federal sources.