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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Medical Center under programs of the federal government for the year ended December 31, 2023. The information in the 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 Medical Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Medical Center.
Title: Summary of Significant Accounting Policies
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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
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. No federal assistance has been provided to a subrecipient.
Title: Indirect Cost Rate
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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
Title: Provider Relief Funds and American Rescue Plan (ARP) Rural Distribution
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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
The Medical Center received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan Rural Distribution (PRF) program (Federal Financial Assistance Listing #93.498) in the amount of $6,359,676 as of December 31, 2023. The Medical Center reported interest earned on PRF payments of $86,171 ($79,355 in Period 1, $490 in Period 2, $5,924 in Period 4 and $402 in Period 5). The PRF expenditures are not recognized on the schedule until the expenditures are included in the reporting to HHS as required under the PRF program.
The following summarizes the Provider Relief Funds and the timing of when the amounts were recognized in the
financial statements.
Amounts Amounts Amounts Amounts
Recognized in Recognized in Recognized in Recognized in
Federal Accordance with Accordance with Accordance with Accordance with
Financial GAAP for the GAAP for the GAAP for the GAAP for the
Assistance Year Ended Year Ended Year Ended Year Ended
Federal Department/Program Title/Grant Name Listing 12/31/2020 12/31/2021 12/31/2022 12/31/2023
Department of Health and Human Services
Health Resources and Services Administration
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 1 (not included in
2023 Schedule) 93.498 $4,949,015 $- $- $-
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 2 (not included in
2023 Schedule) 93.498 97,541 - - -
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 4 (included in
2023 Schedule) 93.498 - 1,179,233 - -
COVID-19 Provider Relief Fund and American
Rescue Plan General and Targeted
Distribution - Period 5 (included in
2023 Schedule) 93.498 - - 133,887 -
Total Department of Health and Human Services $5,046,556 $1,179,233 $133,887 $-
Title: Loans
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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance and does not draw for indirect costs.
The balance of the loans outstanding at December 31, 2023 consists of:
Federal Financial Outstanding
Assistance Listing Program/Cluster Name Balance
10.766 Community Facilities Loans and Grants Cluster $30,363,654