Title: Unobligated federal funds
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity – The accompanying Schedule of Expenditures of Federal Awards includes all federal award programs of Bucksport Regional Health Center, Inc. for the fiscal year ended March 31, 2023. The reporting entity is defined in the Notes to the Financial Statements of Bucksport Regional Health Center, Inc.
Basis of Presentation – The information in the accompanying Schedule of Expenditures of Federal Awards is presented in accordance with the Uniform Guidance.
1. Pursuant to the Uniform Guidance, federal awards are defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations.
2. Major Programs – The Uniform Guidance establishes the levels of expenditures to be used in defining major federal financial award programs. Major programs for Bucksport Regional Health Center, Inc. have been identified in the attached Schedule of Findings and Questioned Costs.
Basis of Accounting - The schedule of expenditures of federal awards includes the federal grant activity of Bucksport Regional Health Center, Inc. and is presented on the full accrual basis, with the exception of not capitalizing equipment purchased with federal funds, which is consistent with reporting in the Organization’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% De Minimis Cost rate for the year ended March 31, 2023.
As of March 31, 2023 the Organization had grant awards in the amount of $684,749 that had not been drawn or expended. Unobligated amounts consist of the following awards: C8ECS44767-01-01 537,193
H8FCS40562-01-00 48,302
H8GCS48730-01-00 99,254
684,749
Title: grant award carryforward
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity – The accompanying Schedule of Expenditures of Federal Awards includes all federal award programs of Bucksport Regional Health Center, Inc. for the fiscal year ended March 31, 2023. The reporting entity is defined in the Notes to the Financial Statements of Bucksport Regional Health Center, Inc.
Basis of Presentation – The information in the accompanying Schedule of Expenditures of Federal Awards is presented in accordance with the Uniform Guidance.
1. Pursuant to the Uniform Guidance, federal awards are defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations.
2. Major Programs – The Uniform Guidance establishes the levels of expenditures to be used in defining major federal financial award programs. Major programs for Bucksport Regional Health Center, Inc. have been identified in the attached Schedule of Findings and Questioned Costs.
Basis of Accounting - The schedule of expenditures of federal awards includes the federal grant activity of Bucksport Regional Health Center, Inc. and is presented on the full accrual basis, with the exception of not capitalizing equipment purchased with federal funds, which is consistent with reporting in the Organization’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% De Minimis Cost rate for the year ended March 31, 2023.
The Organization carried forward $8,692 of unexpended funds from award H80CS00591-20-00 to award H80CS00591-21-00 for the year ended March 31, 2023 bringing the total balance of that award to $2,273,797 which was fully expended in the year ended March 31, 2023.