Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Harrison Memorial Hospital and Subsidiaries (the “Hospital”) under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with 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.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% 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: 3. Provider Relief Funds
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule for the Provider Relief Fund (“PRF”) are based on the Hospital’s March 31, 2023 report to the PRF Reporting Portal. Under terms and conditions of the Provider Relief Funds established by the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, 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 within certain reporting timetables based on the date that funds were received. The 2023 Schedule includes PRF of $3,654,012 which was received by the Hospital between July 1, 2021 and December 31, 2021, the date designated by HHS for its fourth PRF reporting period. For the years ended September 30, 2023, and 2022, the Hospital recognized $-0- and $3,654,012, respectively, as operating revenue in the consolidated statements of operations and changes in net assets as the terms and conditions of the PRF grant were satisfied by the Hospital.
Title: 4. Loans Outstanding
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The federal programs listed subsequently are administered directly by the Hospital, and balances and transactions relating to these programs are included in the Hospital’s financial statements. Loans outstanding as of the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2023, consist of:
Title: 5. Donated Personal Protective Equipment
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During 2023, the Hospital did not receive material donated personal protective equipment from federal sources.
Title: 6. Indirect Cost Rate
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized 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 has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.