Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. 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: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Lexington Regional Health Center (Health Center) 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 Health Center, it is not intended to and does not present the statement of net position, statement of revenue, expenses and changes in net position, and statement of cash flows of the Health Center.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. 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: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
Expenditures reported in the schedule are reported on the accrual basis of accounting. 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.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. 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: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
Title: Provider Relief Funds
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. 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: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The Health Center 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 $7,352,878 as of June 30, 2023. 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 Provider Relief Funds and the timing of when the amounts were recognized in the financial statements.
Amounts Amounts Amounts Amounts
Federal Recognized in Recognized in Recognized in Recognized in
Financial Accordance with Accordance with Accordance with Accordance with
Assistance GAAP for the GAAP for the GAAP for the GAAP for the
Listing/Federal Year Ended Year Ended Year Ended Year Ended
Federal Department/Program Title/Grant Name CFDA Number June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023
Department of Health and Human Services
Health Resources and Services Administration
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 1 (not included in
2023 Schedule) 93.498 $2,518,530 $1,933,065 $- $-
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 2 (not included in
2023 Schedule) 93.498 - - 2,103,253 -
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 4 (included in
2023 Schedule) 93.498 - - 798,030 -
Total Department of Health and Human Services $2,518,530 $1,933,065 $2,901,283 $-
Title: Loans
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. 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: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The balance of loans outstanding at June 30, 2023 consists of:
Federal Financial
Assistance Listing Program Name Outstanding Balance
10.766 Community Facilities Loans and Grants Cluster $13,405,695