Notes to SEFA
Title: Basis of Presentation
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center under programs of the federal government for the year ended December 31, 2021. The Schedule also includes Provider Relief Funds received during the period of April 10, 2020 through June 30, 2020 with a deadline for use of June 30, 2021 in accordance with HRSA guidelines. 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. Because the Schedule presents only a selected portion of the operations of Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center.
Title: Other Information
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule as COVID-19 – Provider Relief Funds are based upon the Provider Relief Fund reporting portal submissions one (1) and two (2) which cover Provider Relief Fund payments received by Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center from April 10, 2020 through December 31, 2020.
Title: Restatement
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Winston County Medical Foundation and Subsidiary d/b/a Winston Medical Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
It was determined after the release of the audit report that the Schedule of Expenditures of Federal Awards did not properly include all amounts related to COVID-19 – Provider Relief Funds. The originally reported Schedule of Expenditures of Federal Awards included only those PRF funds that
were reported for Period 1 on the U.S. Department of Health and Human Services PRF Reporting Portal. The Funds that were reported for Period 2 were also required to be included in the December 31, 2021 Schedule of Expenditures of Federal Awards. Therefore, the 2021 Schedule of Expenditures
of Federal Awards has been restated, the Independent Auditors’ Report and the Subsequent Events Footnote have been dual dated as of March 11, 2024 to properly report the Schedule of Expenditures of Federal Awards as of December 31, 2021 and the OMB Independent Auditors’ Report has been dated as of March 11, 2024 to reflect the restatement.