Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Cherry Health and Related Entities and is presented using the accrual basis of accounting. 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.The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the Entities' detail accounting records for each grant. Although some grant awards are for different periods than the Entities' fiscal year, all expenditures in the schedule are for the year ended March 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 887837.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Cherry Health and Related Entities and is presented using the accrual basis of accounting. 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.The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the Entities' detail accounting records for each grant. Although some grant awards are for different periods than the Entities' fiscal year, all expenditures in the schedule are for the year ended March 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Cherry Health and Related Entities did not pass any funds to subrecipients during the year neded March 31, 2022.
Title: U.S. Department of Agriculture Loan Agreement
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Cherry Health and Related Entities and is presented using the accrual basis of accounting. 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.The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the Entities' detail accounting records for each grant. Although some grant awards are for different periods than the Entities' fiscal year, all expenditures in the schedule are for the year ended March 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount expended under AL 10.766, Community Facilities Loans and Grants, represents the beginning loan of a U.S. Department of Agriculture loan agreement. The loan had an outstanding prinicipal balance of $887,837 as of March 31, 2022.
Title: Reconciliation of Federal Awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Cherry Health and Related Entities and is presented using the accrual basis of accounting. 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.The expenditures in the Schedule of Expenditures of Federal Awards are in agreement with the Entities' detail accounting records for each grant. Although some grant awards are for different periods than the Entities' fiscal year, all expenditures in the schedule are for the year ended March 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures per schedule of expenditures of federal awards $19,158,072 Nonfederal grants 11,005,515 Provider Relief Funds (AL# 93.498) -Revenue in prior year on the statement of activities, reported on current year schedule of expenditures of federal awards. (560,582)Revenue in current year on the statement of activites, to be reported on future year schedule of expenditures of federal awards. 3,540,143 Community Facilities Loans and Grants (AL# 10.766) -Represents the beginning loan balance of loan agreement with U.S. Department of Agriculture. (952,784)Grant Revenue per statement of activities $32,190,364