Title: Note A
Accounting Policies: NOTE A - The accompanying Schedule of Expenditures of Federal Awards includes the federal loan and grant activity of Pikeville Medical Center and subsidiaries (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10-percent deminimis cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal loan and grant activity of Pikeville Medical Center and subsidiaries (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis consolidated financial statements.
Title: Note B
Accounting Policies: NOTE A - The accompanying Schedule of Expenditures of Federal Awards includes the federal loan and grant activity of Pikeville Medical Center and subsidiaries (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10-percent deminimis cost rate allowed under the Uniform Guidance.
Loan Balance Outstanding: There were no proceeds received or expended by the Hospital under the Community Facilities program during the year ended September 30, 2023. The expenditures reported on the Schedule of Expenditures of Federal Awards represent the total balance of the loans outstanding at October 1, 2022 of $191,916,897. The total balance of the loans outstanding at September 30, 2023 is $188,356,179.
DeMinimis Indirect Cost Rate: The Hospital has elected not to use the 10-percent deminimis cost rate allowed under the Uniform Guidance.
Title: Note C
Accounting Policies: NOTE A - The accompanying Schedule of Expenditures of Federal Awards includes the federal loan and grant activity of Pikeville Medical Center and subsidiaries (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10-percent deminimis cost rate allowed under the Uniform Guidance.
The Hospital's federal programs are subject to financial and compliance audits by grantor agencies which, if instances of material noncompliance are found, may result in disallowed expenditures and affect the Hospital's continued participation in specific programs. The amount, if any, of expenditures which may be disallowed by the grantor agencies cannot be determined at this time, although the Hospital expects such amounts, if any, to be immaterial.
Title: Note D
Accounting Policies: NOTE A - The accompanying Schedule of Expenditures of Federal Awards includes the federal loan and grant activity of Pikeville Medical Center and subsidiaries (the Hospital) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10-percent deminimis cost rate allowed under the Uniform Guidance.
As discussed in Note O to the accompanying consolidated financial statements, the Hospital received a significant amount of funding from the Coronavirus Aid, Relief, and Economic Security Act Provider Relief Fund (PRF) program. Expenditures under this program are subject to the Uniform Guidance. In accordance with the 2023 Compliance Supplement, PRF amounts received during the period July 1 - December 31, 2021 and that were used by December 31, 2022 are included in the accompanying schedule of expenditures of federal awards.