Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Accrual basis
De Minimis Rate Used: N
Rate Explanation: The Organization 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 for the year ended December 31, 2023 includes the federal grant activity of Knox Community Hospital and Subsidiaries (“Hospital”) and is presented on the accrual basis of accounting. The information in this schedule is presented in
accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the consolidated financial statements.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: Accrual basis
De Minimis Rate Used: N
Rate Explanation: The Organization 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. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note C - Mortgage Insurance for Hospitals
Accounting Policies: Accrual basis
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
See the Notes to the SEFA for chart/table