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 minimis
cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the Mahaska County Hospital d/b/a Mahaska Health (Hospital) under programs of the federal government for
the years ended June 30, 2024. 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 financial position, changes in net
position or cash flows of the Hospital.
Title: Note 4 - Community Facilities Loan Program
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 minimis
cost rate.
Expenditures reported in this schedule under the US. Department of Agriculture (USDA) Rural Development
Program Community Facilities Loans and Grants consist of the beginning of the year outstanding loan balance.
The outstanding balance at June 30, 2024 for the USDA loans was $17,082,123.