Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note 3.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of the federal award activity of the Bear Valley Community Healthcare District (the District) under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U. S. Code of Federal Regulations (CFR) 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 District, it is not intended to and does not present the financial position, changes in net position or cash flows for the District. For purposes of the Schedule, federal awards include all grants and contracts entered into directly between the District, agencies, and departments of the federal government. The awards are classified
Title: NOTE 2 - BASIS OF ACCOUNTING
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note 3.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. For Assistance Listing (AL) number 93.498, the amount reported on the Schedule is based on the Period 4 and 5 Provider Relief Fund (PRF) reports submitted to HRSA. Such expenditures are recognized following the cost principles contained in Title 2 U. S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the course of business to amounts reported as expenditures in prior years.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note 3.
The District’s election of the ten percent federal de minimis cost rate allowed under Title 2 U. S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) is not considered necessary as there were no overhead cost allocations required involving the Provider Relief (COVID) funding.
Title: NOTE 4 - RELATIONSHIP OF SCHEDULE OF EXPENDITURES OF FEDERAL
AWARDS TO FINANCIAL STATEMENTS
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note 3.
Consistent with management’s policy, federal awards and other grants are recorded in respective revenue categories. As result, the amount of total federal awards expended on the Schedule does not agree to total grant revenue on the Statement of Revenues, Expenses, and Changes in Net Position as presented in the District’s report on the audited financial statements.