Title: Note 3: Noncash Assistance
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) represents federal grant activity of the Medical Center under programs of the federal government for the year ended September 30, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative equirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Medical Center.
Expenditures reported in 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.
For assistance listing number 93.498 Provider Relief Funds (PRF) amounts reported in the Schedule represent PRF funds received by the Medical Center during the period July 1, 2020 to June 30, 2021 that were required to be used by June 30, 2022 and that were reported in the PRF portal for the reporting time period ended September 30, 2022.
Indirect Cost Rate
The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2022, the Medical Center did not elect to use this rate.
Loan / Loan Guarantee Outstanding Balances
The Medical Center had $55,626,502 of federal loans or loan guarantees outstanding as of September 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2022, the Medical Center did not elect to use this rate.
The Medical Center did not receive any federal noncash assistance for the year ended September 30, 2022.
Title: Note 4: Reissuance of Financial Statements
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) represents federal grant activity of the Medical Center under programs of the federal government for the year ended September 30, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative equirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Medical Center.
Expenditures reported in 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.
For assistance listing number 93.498 Provider Relief Funds (PRF) amounts reported in the Schedule represent PRF funds received by the Medical Center during the period July 1, 2020 to June 30, 2021 that were required to be used by June 30, 2022 and that were reported in the PRF portal for the reporting time period ended September 30, 2022.
Indirect Cost Rate
The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2022, the Medical Center did not elect to use this rate.
Loan / Loan Guarantee Outstanding Balances
The Medical Center had $55,626,502 of federal loans or loan guarantees outstanding as of September 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2022, the Medical Center did not elect to use this rate.
The September 30, 2022 financial statement audit is being reissued due to a material misstatement in the Schedule of Expenditures of Federal Awards related to the Communitiy Facilities Loans and Grants Cluster begining of the year loan balance not being included. Changes were made to the compliance supplement, requiring the inclusion of this federal program on the SEFA, but this was not
noted until after the September 30, 2022 single audit and financial statements had been issued. This resulted in the reissuance of the 2022 financial statement and single audit.