Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), presents on an accrual basis, the activity of federal award programs administered by Bassett Healthcare Network (the Network), for the year ended December 31, 2022, as applicable, except for Valley Health Services and Valley Residential Services (collectively, Valley Health Services), which is subject to a separate audit in compliance with the Uniform Guidance. The information in this Schedule is presented in accordance with the 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 select portion of the operations of the Network, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the Network.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are allowed by the respective granting agency and are included in the federal financial reports used as the source of data presented. The Network has elected not to use the 10% diminimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule), presents on an accrual basis, the activity of federal award programs administered by Bassett Healthcare Network (the Network), for the year ended December 31, 2022, as applicable, except for Valley Health Services and Valley Residential Services (collectively, Valley Health Services), which is subject to a separate audit in compliance with the Uniform Guidance. The information in this Schedule is presented in accordance with the 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 select portion of the operations of the Network, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the Network.
Title: Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), presents on an accrual basis, the activity of federal award programs administered by Bassett Healthcare Network (the Network), for the year ended December 31, 2022, as applicable, except for Valley Health Services and Valley Residential Services (collectively, Valley Health Services), which is subject to a separate audit in compliance with the Uniform Guidance. The information in this Schedule is presented in accordance with the 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 select portion of the operations of the Network, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the Network.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are allowed by the respective granting agency and are included in the federal financial reports used as the source of data presented. The Network has elected not to use the 10% diminimus indirect cost rate allowed under the Uniform Guidance.
Indirect costs are included in the reported expenditures to the extent such costs are allowed by the respective granting agency and are included in the federal financial reports used as the source of data presented. The Network has elected not to use the 10% diminimus indirect cost rate allowed under the Uniform Guidance.