Notes to SEFA
Title: Note 4 ‐ Community Facilities Loan Program
Accounting Policies: Note 1 ‐ Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the West Holt Memorial Hospital (Hospital) under programs of the federal government for the year ended June 30, 2023. The information 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 Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Hospital.
Note 2 ‐ Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the accrual basis of accounting, with the exception of the HRSA COVID‐19 Claims Reimbursement for the Uninsured Program, which is based on when the claim is deemed eligible as evidenced by the receipt of monies from the federal agencies. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 3 ‐ Indirect Cost Rate
The Hospital has not elected to use the 10% de minimus cost rate.
Expenditures reported in this schedule under the US. Department of Agriculture (USDA) Rural Development Program Community Facilities Loans and Grants consist of the beginning of the year outstanding loan balance. The outstanding balance at June 30, 2023 for the USDA loans was $6,153,474.
Title: Note 5 ‐ Provider Relief Fund and American Rescue Plan Rural Distribution
Accounting Policies: Note 1 ‐ Basis of Presentation
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the West Holt Memorial Hospital (Hospital) under programs of the federal government for the year ended June 30, 2023. The information 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 Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Hospital.
Note 2 ‐ Summary of Significant Accounting Policies
Expenditures reported in the schedule are reported on the accrual basis of accounting, with the exception of the HRSA COVID‐19 Claims Reimbursement for the Uninsured Program, which is based on when the claim is deemed eligible as evidenced by the receipt of monies from the federal agencies. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 3 ‐ Indirect Cost Rate
The Hospital has not elected to use the 10% de minimus cost rate.
The Hospital received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan Rural Distribution (PRF) program (Federal Financial Assistance Listing #93.498) in the amount of $3,829,108 through June 30, 2023. The Hospital reported interest earned on the PRF payments of $14,254 ($14,102 in period 1 and $152 in period 4). The PRF expenditures are not recognized on the schedule until the expenditures are included in the reporting to HHS as required under the PRF program.
The following summarizes the PRF program and the timing of when the amounts were recognized in the
financial statements. See the "Notes to the SEFA" for the chart/table.