Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported in 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 Hospital does not draw for indirect administrative expenses and has not elected to use the 10% de minimus
cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Mary Lanning Healthcare and Affiliates (the Hospital) 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 Hospital, it is not intended to and does not present the balance sheet, statement of
operations, statement of changes in net assets, and statement of cash flows of the Hospital.