Notes to SEFA
Title: NOTE 1 - GENERAL
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is described in Note 2 to PCHSAK, Inc.'s financial statements. Expenditures on the schedule of expenditures of federal awards are recognized following the cost principles contained in the Uniform Guidence, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: PCHSAK, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Peninsula Community Health Services of Alaska, Inc. (PCHSAK, Inc.). The information in this schedule of expenditures of federal awards 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). Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other entities is included on the schedule. PCHSAK, Inc.’s reporting entity is defined in Note 1 to the organization’s financial statements.
Title: NOTE 4 - COVID-19 PROVIDER RELIEF FUND RECONCILIATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is described in Note 2 to PCHSAK, Inc.'s financial statements. Expenditures on the schedule of expenditures of federal awards are recognized following the cost principles contained in the Uniform Guidence, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: PCHSAK, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule includes Provider Relief Funds of $518,892 that were received in PRF Periods 3 and 4, in accordance with the requirements of the compliance supplement for ALN 93.498. For the years ended December 31, 2022, PCHSAK, Inc. recognized $518,892 in revenue from provide relief funds in the accompanying financial statements.
Title: NOTE 5 - FEDERAL LOANS
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is described in Note 2 to PCHSAK, Inc.'s financial statements. Expenditures on the schedule of expenditures of federal awards are recognized following the cost principles contained in the Uniform Guidence, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: PCHSAK, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
PCHSAK Inc.’s building was funded by the United States Department of Agriculture. Balances relating to this program are included in PHCSAK Inc.’s basic financial statements. The loans have continuing compliance requirements and there the outstanding balances are reflected on the Schedule. No new loans were issued during the fiscal year ended December 31, 2022. The balance of the loans outstanding at December 31, 2022 were $2,213,418.