Notes to SEFA
Title: Loan Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of P.R. Health Corporation d/b/a First Care Health Center (Health Center) under programs of the federal
government for the year ended December 31, 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 Health Center, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Health Center.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, 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 financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de
minimis cost rate.
Expenditures reported in this Schedule consist of the beginning of the year outstanding loan balance plus
advances made on the loan during the year, if applicable. The outstanding balance at December 31, 2023 was
$2,589,737.
Title: COVID-19 Provider Relief Funds and American Rescue Plan (ARP) Rural Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of P.R. Health Corporation d/b/a First Care Health Center (Health Center) under programs of the federal
government for the year ended December 31, 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 Health Center, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Health Center.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, 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 financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Health Center does not draw for indirect administrative expenses and has not elected to use the 10% de
minimis cost rate.
The Health Center received amounts from the U.S. Department of Health and Human Services (HHS) through the
COVID‐19 Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution program (PRF) (Federal
Financial Assistance Listing #93.498). The Health Center incurred eligible expenditures, and therefore,
recognized revenues totaling $737,893 for the year ended December 31, 2023 on the financial statements. In
accordance with the compliance supplement, the PRF expenditures recognized on the Schedule are based on
the reporting to HHS for Period 5, defined as payments received during January 1, 2022 to June 30, 2022.The
Health Center earned interest of $1,330 which is included in the Schedule.