Notes to SEFA
Title: Subrecipients
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of The Russell Hospital Corporation and Subsidiary d/b/a Russell Medical Center (the Hospital) under programs of the federal government for the year ended December 31, 2022. 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, change in net assets, or cash flows of the Hospital. 2. Expenditures reported on the Schedule are reported on the accrual basis of accounting which is consistent with the preparation of the Hospital financial statements. 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 Provider Relief Fund (PRF) amount reported on the Schedule represents the amount reported to the U.S. Department of Health and Human Services HRSA Reporting Portal for Period 4 as specified in the OMB Compliance Supplement. The Hospital did not receive any Period 3 PRF payments.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no awards passed through to subrecipients.
Title: Loans/Outstanding Loan Balances
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of The Russell Hospital Corporation and Subsidiary d/b/a Russell Medical Center (the Hospital) under programs of the federal government for the year ended December 31, 2022. 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, change in net assets, or cash flows of the Hospital. 2. Expenditures reported on the Schedule are reported on the accrual basis of accounting which is consistent with the preparation of the Hospital financial statements. 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 Provider Relief Fund (PRF) amount reported on the Schedule represents the amount reported to the U.S. Department of Health and Human Services HRSA Reporting Portal for Period 4 as specified in the OMB Compliance Supplement. The Hospital did not receive any Period 3 PRF payments.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal expenditures under loan programs include any new loans made during the year and loans outstanding at the beginning of the year for which there are continuing compliance requirements. There were no new loans for the year ended December 31, 2022. The balance of the loan outstanding as of December 31, 2022 is approximately $25,301,483.
Title: Non-Cash Awards
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of The Russell Hospital Corporation and Subsidiary d/b/a Russell Medical Center (the Hospital) under programs of the federal government for the year ended December 31, 2022. 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, change in net assets, or cash flows of the Hospital. 2. Expenditures reported on the Schedule are reported on the accrual basis of accounting which is consistent with the preparation of the Hospital financial statements. 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 Provider Relief Fund (PRF) amount reported on the Schedule represents the amount reported to the U.S. Department of Health and Human Services HRSA Reporting Portal for Period 4 as specified in the OMB Compliance Supplement. The Hospital did not receive any Period 3 PRF payments.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Hospital did not have any non-cash awards during the fiscal year.