Title: Note 3. Contingencies
Accounting Policies: Note 1. Basis of Presentation: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Boone Memorial Hospital, Inc. (the Hospital) under the programs of the federal government for the year ended June 30, 2023. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All federal awards received directly and indirectly from federal agencies are included in this SEFA. Because the SEFA 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.
As outlined in the May 2023 OMB Compliance Supplement, the amounts reported in the accompanying Schedule related to the COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution, Assistance Listing No. 93.498, are reported based upon the PRF reporting portal submission guidelines established by the Health Resource and Service Administration (HRSA). Six separate reporting periods were established by HRSA based on the dates of receipt of PRF payments. The accompanying SEFA includes those qualifying expenditures and lost revenues that were reported in the HRSA PRF portal for Period 4. The total amount of $1,976,609 in PRF and ARP funding was recognized by the Hospital in its statement of operations and changes in net assets without donor restrictions during the fiscal year ended June 30, 2022. NOte 2. Basis of Accounting: Expenditures are reported in the SEFA on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Lost revenues are reported based on the HRSA Option 2 reporting of lost revenues by comparing actual revenues by quarter during the period of availability to budget.
The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The Hospital did not pass through any funding to subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The grant programs are subject to financial and compliance audits by the grantors or their representatives. Such audits could lead to requests for reimbursement to the grantor agencies for expenditures disallowed under terms of the grants. The amount, if any, of expenditures which may be disallowed by the grantor agencies cannot be determined at this time, although the Hospital expects such amounts, if any, to be immaterial.
Title: Note 4. Categorization of Expenditures and Other Matters
Accounting Policies: Note 1. Basis of Presentation: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Boone Memorial Hospital, Inc. (the Hospital) under the programs of the federal government for the year ended June 30, 2023. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All federal awards received directly and indirectly from federal agencies are included in this SEFA. Because the SEFA 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.
As outlined in the May 2023 OMB Compliance Supplement, the amounts reported in the accompanying Schedule related to the COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution, Assistance Listing No. 93.498, are reported based upon the PRF reporting portal submission guidelines established by the Health Resource and Service Administration (HRSA). Six separate reporting periods were established by HRSA based on the dates of receipt of PRF payments. The accompanying SEFA includes those qualifying expenditures and lost revenues that were reported in the HRSA PRF portal for Period 4. The total amount of $1,976,609 in PRF and ARP funding was recognized by the Hospital in its statement of operations and changes in net assets without donor restrictions during the fiscal year ended June 30, 2022. NOte 2. Basis of Accounting: Expenditures are reported in the SEFA on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Lost revenues are reported based on the HRSA Option 2 reporting of lost revenues by comparing actual revenues by quarter during the period of availability to budget.
The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The Hospital did not pass through any funding to subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The categorization of expenditures by program included in the SEFA is based upon the grant documents. Changes in the categorization of expenditures occur based upon revisions to the Assistance Listing. The SEFA for the year ended June 30, 2023 reflects Assistance Listing changes through May 2023.
Title: Note 5. Subsequent Events
Accounting Policies: Note 1. Basis of Presentation: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Boone Memorial Hospital, Inc. (the Hospital) under the programs of the federal government for the year ended June 30, 2023. The information in this SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All federal awards received directly and indirectly from federal agencies are included in this SEFA. Because the SEFA 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.
As outlined in the May 2023 OMB Compliance Supplement, the amounts reported in the accompanying Schedule related to the COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution, Assistance Listing No. 93.498, are reported based upon the PRF reporting portal submission guidelines established by the Health Resource and Service Administration (HRSA). Six separate reporting periods were established by HRSA based on the dates of receipt of PRF payments. The accompanying SEFA includes those qualifying expenditures and lost revenues that were reported in the HRSA PRF portal for Period 4. The total amount of $1,976,609 in PRF and ARP funding was recognized by the Hospital in its statement of operations and changes in net assets without donor restrictions during the fiscal year ended June 30, 2022. NOte 2. Basis of Accounting: Expenditures are reported in the SEFA on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Lost revenues are reported based on the HRSA Option 2 reporting of lost revenues by comparing actual revenues by quarter during the period of availability to budget.
The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The Hospital did not pass through any funding to subrecipients.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance where applicable.
The Hospital has evaluated subsequent events through March 25, 2024, which is the date the SEFA was available to be issued.