Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Trigg County Hospital, Inc. (the “Hospital”) under programs of the federal government for the year ended April 30, 2022. The information in this Schedule is presented in accordance with 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 Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Hospital.
Title: 2. Summary of Signficant Acounting Policies
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the 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.
Title: 3. Provider Relief Funds
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule for the Provider Relief Fund (“PRF”) are based on the Hospital’s June 30, 2021 report to the PRF Reporting Portal. Under terms and conditions of the Provider Relief Funds established by the Coronavirus Aids, Relief, and Economic Security (“CARES”) Act, the Hospital is required to report COVID-19 related expenses and lost revenue to the U.S. Department of Health and Human Services (“HHS”). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenue within certain reporting timetables based on the date that funds were received. The 2022 Schedule includes PRF of $3,136,685 which was received by the Hospital prior to June 30, 2020, the date designated by HHS for its first PRF reporting period. For the years ended April 30, 2022 and 2021, the Hospital recognized $1,669,296 and $1,655,714, respectively, as non-operating revenue in the statement of operations and changes in net position as the terms and conditions of the PRF grant were satisfied by the Hospital. HHS required PRF amounts related to the first reporting period to be reported in the 2022 Schedule rather than the $1,669,296 in the 2022 Schedule and $1,655,714 in the 2021 Schedule. PRF revenues in the 2021 statement of operations and changes in net position also include $188,325 received after June 30, 2020 that is subject to the fourth reporting period and is not required to be included in the 2022 schedule.
Title: 4. Donated Personal Equipment
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During 2022, the Hospital did not receive material donated personal protective equipment from federal sources.
Title: 5. Indirect Cost Rate
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are rcognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.