Title: Basis of Presentation
Accounting Policies: Except as noted in Note 3, expenditures on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the System’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the System did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Southwest Louisiana Health Care System, Inc. and its affiliates (the System) under programs of the federal government for the year ended December 31, 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). Because the Schedule presents only a selected portion of the operations of the System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System. The System’s reporting entity is defined in Note 1 to the financial statements for the year ended December 31, 2023.
Title: Summary of Significant Accounting Policies
Accounting Policies: Except as noted in Note 3, expenditures on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the System’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the System did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.
Except as noted in Note 3, expenditures on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the System’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
Title: Relationship to Financial Statements
Accounting Policies: Except as noted in Note 3, expenditures on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the System’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the System did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.
For the HHS awards related to the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution program, the HHS has indicated the amounts on the Schedule be reported corresponding to reporting requirements of the PRF Reporting Portal. Payments from HHS for PRF are assigned to ‘Payment Received Periods’ (each, a Period) based upon the date each payment from the PRF was received. Each Period has a specified Period of Availability and timing of reporting requirements. Entities report into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
Provider Relief Funds (PRF) of $10,959,895 were received during the period of January 1, 2022 to June 30, 2022. Such amounts were recognized as revenue in the System’s financial statements in other operating revenue for the year ended December 31, 2022. Provider Relief Funds are required to be reported on Southwest’s Schedule for the year ended December 31, 2023, based on guidance in the 2023 OMB Compliance Supplement.
FEMA funds obligated were $29,753,469 during the period of January 1, 2023 to December 31, 2023. Such amounts were recognized as revenue in the System’s financial statements in other operating revenue for the year ended December 31, 2023.
Title: De Minimis Cost Rate
Accounting Policies: Except as noted in Note 3, expenditures on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the System’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the System did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.
During the year ended December 31, 2023, the System did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.