Title: a- Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guideance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guideance. The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Blount Memorial Hospital, Incorporated (the “Hospital") under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with 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 net position, changes in net position, or cash flows of the Hospital.
Title: b- Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guideance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guideance. The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The expenditure threshold for classification as a Type A program is $750,000.
Title: c- Other
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guideance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guideance. The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding at year end. Additionally, during the year ended June 30, 2024, the Hospital did not provide any federal awards to subrecipients.
Title: d- Expenditures incurred in a prior year
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guideance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guideance. The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported under Assistance Listing Number 97.036 were incurred by the Hospital in prior years. Expenditures totaling $3,416,687 were incurred during the years ended June 30, 2022 and 2021. Due to final approval of grant funds not occurring until 2024, these prior year expenditures are included in the schedule for 2024 compliance reporting.
Title: e- Return of provider relief funds
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guideance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guideance. The expenditure threshold for classification as a Type A program is $750,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the fiscal year, $93,137 of previous Provider Relief Funds were returned as they were not used during the period of performance for qualifying expenses. This amount is reflected as a negative expenditure in the Schedule.