Title: Basis of Presentation
Accounting Policies: (See PDF page 31 of audited financial statements): (1) BASIS OF PRESENTATION The accompnaying schedule of expenditures of federal awards includes the federal activity of Caldwell County Hopsital, Inc. (The Hopsital) for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards 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. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (3) U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES PROVIDER RELIEF FUNNDS Under terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution, the Hospitalis required to report COVID-19 related expenses and lost revenue to the U.S Department of Health and Human Services (HHS). Guidance from the HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. The schedule of expenditures of federal awards includes Provider Relief Funds and the American Rescue Plan Rural Distributions of $893,594 which was received by the Hopsital during the year anding June 30, 2022. HHS required these Provider Relief Funds and the American Rescue Plan Rural Distribution amounts to be reported on the year ending June 30, 2023, schedule of expenditures of federal awards. The Hospital recognized the full amount, $893,594, as revenues during the year ended June 30, 2022, on the statements of operations and changes in net position as the terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution grant were satisfied by the Hospital.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
The accompnaying schedule of expenditures of federal awards includes the federal activity of Caldwell County Hopsital, Inc. (The Hopsital) for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards 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: Summary of Significant Accounting Policies
Accounting Policies: (See PDF page 31 of audited financial statements): (1) BASIS OF PRESENTATION The accompnaying schedule of expenditures of federal awards includes the federal activity of Caldwell County Hopsital, Inc. (The Hopsital) for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards 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. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (3) U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES PROVIDER RELIEF FUNNDS Under terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution, the Hospitalis required to report COVID-19 related expenses and lost revenue to the U.S Department of Health and Human Services (HHS). Guidance from the HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. The schedule of expenditures of federal awards includes Provider Relief Funds and the American Rescue Plan Rural Distributions of $893,594 which was received by the Hopsital during the year anding June 30, 2022. HHS required these Provider Relief Funds and the American Rescue Plan Rural Distribution amounts to be reported on the year ending June 30, 2023, schedule of expenditures of federal awards. The Hospital recognized the full amount, $893,594, as revenues during the year ended June 30, 2022, on the statements of operations and changes in net position as the terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution grant were satisfied by the Hospital.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
Title: U.S Department of Health and Human Services Provider Relief Funds
Accounting Policies: (See PDF page 31 of audited financial statements): (1) BASIS OF PRESENTATION The accompnaying schedule of expenditures of federal awards includes the federal activity of Caldwell County Hopsital, Inc. (The Hopsital) for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards 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. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (3) U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES PROVIDER RELIEF FUNNDS Under terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution, the Hospitalis required to report COVID-19 related expenses and lost revenue to the U.S Department of Health and Human Services (HHS). Guidance from the HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. The schedule of expenditures of federal awards includes Provider Relief Funds and the American Rescue Plan Rural Distributions of $893,594 which was received by the Hopsital during the year anding June 30, 2022. HHS required these Provider Relief Funds and the American Rescue Plan Rural Distribution amounts to be reported on the year ending June 30, 2023, schedule of expenditures of federal awards. The Hospital recognized the full amount, $893,594, as revenues during the year ended June 30, 2022, on the statements of operations and changes in net position as the terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution grant were satisfied by the Hospital.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Under terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution, the Hospitalis required to report COVID-19 related expenses and lost revenue to the U.S Department of Health and Human Services (HHS). Guidance from the HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. The schedule of expenditures of federal awards includes Provider Relief Funds and the American Rescue Plan Rural Distributions of $893,594 which was received by the Hopsital during the year anding June 30, 2022. HHS required these Provider Relief Funds and the American Rescue Plan Rural Distribution amounts to be reported on the year ending June 30, 2023, schedule of expenditures of federal awards. The Hospital recognized the full amount, $893,594, as revenues during the year ended June 30, 2022, on the statements of operations and changes in net position as the terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution grant were satisfied by the Hospital.