Notes to SEFA
Title: Note 1- 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 Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the Abbeville County Memorial Hospital d/b/a Abbeville Area Medical Center (Center) under programs of the federal government for the year ended September 30, 2023. The information 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 Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Center.
Title: Note 4 - Loan Program
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 Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate.
Expenditures reported on the Schedule consist of the beginning of the year outstanding loan balance plus advances made on the loan during the year. The outstanding balance of the direct loan at September 30, 2023, was $10,954,739.
Title: Note 5 – Provider Relief Fund and American Rescue Plan 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 Center does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate.
The Center received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution program (Federal Financial Assistance Listing #93.498) during the year ended September 30, 2022 totaling $2,100,486. The Center incurred eligible expenditures and, therefore, recognized revenues totaling $-0-, and $2,100,486 for the years ended September 30, 2023 and 2022, respectively, on the financial statements related to these receipts. In accordance with the 2023 compliance supplement, the PRF expenditures recognized on the Schedule are based on the reporting to HHS for Period 4, defined as payments received during July 1, 2021 to December 31, 2021 of $2,100,486, as required under the PRF program.