Notes to SEFA
Title: Balance of Outstanding Loan
Accounting Policies: LA JUNTA HEALTH SERVICE DISTRICT LA JUNTA, COLORADO NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS NOTE -1BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the La Junta Health Service District under programs of the federal government for the year ended December 31, 2022. The information in this schedule 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 La Junta Health Service District, it is not intended to and does not present the financial position, changes in net assets of the La Junta Health Service District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The United States Department of Agriculture (USDA) Facility Loan Grant is reported above under ALN #10.766 with $9,302,384 in federal expenditures during the year ended December 31, 2022. The loan balance at December 31, 2022 was $10,457,654.
Title: Summary of Significant Accounting Policies
Accounting Policies: LA JUNTA HEALTH SERVICE DISTRICT LA JUNTA, COLORADO NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS NOTE -1BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the La Junta Health Service District under programs of the federal government for the year ended December 31, 2022. The information in this schedule 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 La Junta Health Service District, it is not intended to and does not present the financial position, changes in net assets of the La Junta Health Service District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.