Notes to SEFA
Title: Note 1
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: Bay Medical Center d/b/a Bay Health Foundation 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 (the Schedule) includes the federal award activity of Bay Medical Center d/b/a Bay Health Foundation under programs of the federal government for the year ended September 30, 2023. 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 (Uniform Guidance). The amounts reported as federal expenditures were obtained from Bay Medical Center d/b/a Bay Health Foundation’s general ledger. Because the Schedule presents only a selected portion of the operations of Bay Medical Center d/b/a Bay Health Foundation, it is not intended to and does not present the financial position, changes in net position, or cash flows of Bay Medical Center d/b/a Bay Health Foundation.For purposes of this Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and other pass-through entities. Bay Medical Center d/b/a Bay Health Foundation has obtained Catalog of Federal Domestic Assistance (CFDA) numbers to ensure that all programs have been identified in the Schedule. CFDA numbers have been appropriately listed by applicable programs. Federal programs with different CFDA numbers that are closely related because they share common compliance requirements are defined as a cluster by the Uniform Guidance. Disaster Grants – Public Assistance (CFDA No. 97.036)After a Presidential-Declared disaster, FEMA provided a Public Assistance Grant to reimburse eligible costs associated with repair, replacement, or restoration of disaster-damaged facilities. The Federal government reimburses in the form of cost-shared grants which requires state matching funds. For the fiscal year ended September 30, 2023, $2,478,388 of approved eligible expenditures that were incurred in a prior year are included on the Schedule.