Audit 323532

Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Granville Health System, under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Granville Health System, it is not intended to and does not present the net position, changes in net position, and cash flows of Granville Health System. De Minimis Rate Used: Y Rate Explanation: Granville Health System has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. 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. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The amount of funding from Period 4 was approximately $2,866,000 in accordance with the requirements of the compliance supplement for assistance listing number 93.498. The combined financial statements do not reflect any revenue recognized from COVID-19 Provider Relief Funds for the year ended September 30, 2023. All amounts were recognized in prior years.