Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal awards activity of Gothenburg Memorial Hospital District (the Hospital) under programs of the federal government for the year ended June 30, 2023. The accompanying schedule presents total expenditures in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
Title: Provider Relief Fund Reporting
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Provider relief funds (PRF) are to be reported during four separate time periods. Period 1 reporting encompassed all PRF received from April 10, 2020 through June 30, 2020 with a measurement date for use of funds through June 30, 2021. Period 2 reporting includes all PRF received from July 1, 2020 through December 31, 2020 with a measurement date for use of funds through December 31, 2021. Period 3 reporting includes all PRF received from January 1, 2021 through June 30, 2021 with a measurement date for use of funds through June 30, 2022. Period 4 reporting includes all PRF received from July 1, 2021 to December 31, 2021 with a measurement date for use of funds through December 31, 2022. Period 5 reporting includes all PRF received from January 1, 2022 to June 30, 2022 with a measurement date for use of funds through June 30, 2023. Accordingly, the amounts included on the accompanying schedule of expenditures of federal awards are for PRF subject to Periods 4 and 5 reporting.
As previously noted, the PRF reporting timeline for Periods 4 and 5 use of funds runs from July 1, 2022 through June 30, 2023. This has resulted in the Hospital’s recognition and reporting for financial statement purposes not matching with the PRF reporting timeline. A reconciliation of total expenditures of PRF awards to amounts recognized in the Hospital’s financial statements is as follows:
Total PRF included in the Expenditures of Federal Awards $ 510,213
Amounts reflected in the audited financial statements,
in the statements of revenues, expenses and changes in net
position, funds included in Grants - COVID-19 programs FY2023 $ 510,213
Title: Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The balance of loans outstanding at June 30, 2023 consists of:
CFDA Number Program Name Outstanding Balance
10.766 Direct, Department of Agriculture -
Community Facilities Loans and Grants $ 28,131,664
10.766 Guaranteed, Department of Agriculture -
Community Facilities Loans and Grants 2,431,175+
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of the Hospital under programs of the federal government for the year ended June 30, 2023 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.