Title: (1) BASIS OF PRESENTATION
Accounting Policies: (1) BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal activity of Ohio
County Hospital Corporation (the Hospital) for the year ended September 30, 2023. The information in
this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance). Because the schedule of expenditures of federal awards presents only a selected
portion of the operations of the Hospital, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Hospital. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards 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-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
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 includes the federal activity of Ohio
County Hospital Corporation (the Hospital) for the year ended September 30, 2023. The information in
this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance). Because the schedule of expenditures of federal awards presents only a selected
portion of the operations of the Hospital, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Hospital.
Title: (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: (1) BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal activity of Ohio
County Hospital Corporation (the Hospital) for the year ended September 30, 2023. The information in
this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance). Because the schedule of expenditures of federal awards presents only a selected
portion of the operations of the Hospital, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Hospital. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards 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-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Expenditures reported on the schedule of expenditures of federal awards 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-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: (3) U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES PROVIDER RELIEF FUNDS
Accounting Policies: (1) BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal activity of Ohio
County Hospital Corporation (the Hospital) for the year ended September 30, 2023. The information in
this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance). Because the schedule of expenditures of federal awards presents only a selected
portion of the operations of the Hospital, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Hospital. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards 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-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Under terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural
Distribution, the Hospital is required to report COVID-19 related expenses and lost revenue to the U.S.
Department of Health and Human Services (HHS). Guidance from HHS has required the reporting of the
COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were
received. The schedule of expenditures of federal awards includes Provider Relief Funds and the
American Rescue Plan Rural Distributions of $2,094,405 which was received by the Hospital during the
year ending September 30, 2022. HHS required these Provider Relief Funds and the American Rescue
Plan Rural Distribution amounts to be reported on the year ending September 30, 2023, schedule of
expenditures of federal awards. The Hospital recognized the full amount, $2,094,405, as revenues during
the year ended September 30, 2022, on the statements of operations and changes in net position as the
terms and conditions of the Provider Relief Funds and the American Rescue Plan Rural Distribution grant
were satisfied by the Hospital.
Title: (4) COMMUNITY FACILITIES LOANS
Accounting Policies: (1) BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal activity of Ohio
County Hospital Corporation (the Hospital) for the year ended September 30, 2023. The information in
this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance). Because the schedule of expenditures of federal awards presents only a selected
portion of the operations of the Hospital, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Hospital. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the schedule of expenditures of federal awards 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-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Expenditures reporting in the schedule of expenditures of federal awards for community facilities loans
consist of the beginning of the year outstanding loan balances and advances on the loans made during the
fiscal year. There was $8,446,781 in loan advances during the year ended September 30, 2023. The balance
of the loans outstanding at September 30, 2023, is $14,414,016. Loans outstanding at the beginning of the
year were $10,717,235.