Notes to SEFA
Title: Note 4 ‐ Loans
Accounting Policies: Note 1 ‐ Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Hospital under programs of the federal government for the year ended December 31, 2023. 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 Hospital, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Hospital.
Note 2 ‐ Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 3 ‐ Indirect Cost Rate
The Hospital does not draw for indirect administrative expenses and has not elected to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loans outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2023 consists of: See the "Notes to the SEFA" for the chart/table.