Title: Note A - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Oswego Hospital and Affiliate (the Hospital) 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 Hospital, it is not intended to and does not present the financial position, results of operations and changes in net assets or cash flows of the Hospital.
Title: Note E - U.S. Department of Housing and Urban Development Insured Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital has mortgage notes insured by the U.S. Department of Housing and Urban Development (HUD) under Section 242 of the National Housing Act. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the schedule. The Hospital received no additional loans during the year. The Hospital was provided mortgage insurance on its mortgage notes payable and recognized mortgage insurance premium expense amounting to $89,021 for the year ended December 31, 2023. The aggregate balance of the mortgage notes outstanding at December 31, 2023 consists of:
CFDA Number Program name Outstanding balance at December 31, 2023
14.128 Section 242 HUD-insured mortgage notes $ 12,812,608
Title: Note F - Provider Relief Fund
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital received amounts from DHHS through the Provider Relief Fund and American Rescue Plan (ARP) Rural Distributions program (Federal Financial Assistance Listing No. 93.498) during the year ended December 31, 2022 totalling $883,363. The Hospital incurred eligible expenses (including lost revenue) and, therefore, recognized revenue consisting of $883,363 for the year ended December 31, 2022 on the consolidated financial statements. In accordance with the 2023 compliance supplement, the program’s expenditures recognized on the schedule are based on the reporting to DHHS for Period 5, defined as payments received during January 1, 2022 to June 30, 2022 of $883,363, as required under the program.
The Provider Relief Funds included in the Schedule were received by the following entities (legal name and tax identification number):
Legal Entity Name Tax Identification Number
Physician Care, PC 90-0864974
Title: Note G - Disaster Grants – Public Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital received amounts from DHS through the Disaster Grants – Public Assistance (Presidentially Declared Disasters) program (Federal Financial Assistance Listing No. 97.036) during the year ended December 31, 2023, totalling $1,022,345. The Hospital incurred eligible expenses and, therefore, recognized revenue totalling $1,022,345 for the year ended December 31, 2023, on the consolidated financial statements. In accordance with the 2023 compliance supplement, the program’s expenditures recognized on the schedule are based on the reporting of expenses incurred from March 6, 2020, to May 11, 2023, which were obligated by DHS during 2023, as required under the compliance supplement.