Notes to SEFA
Title: Community Facility Loans and Grants Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of
Greene County Medical Center (Medical Center) under programs of the federal government for the year 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
Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash
flows of the Medical Center.
Expenditures reported on 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 Medical Center does not draw for indirect administrative expenses and has not elected to use the 10% de
minimis cost rate.
Expenditures reported on this Schedule consist of the beginning of the year outstanding loan balance of the
Medical Center’s USDA direct loan of $16,050,457, as well as $1,341,051, which is 90% of the beginning of the
year outstanding balance of the Medical Center’s USDA guaranteed loans. If applicable, advances made on the
loans during the year are reported on the Schedule. The Medical Center made no advances on the loans during
the year ended June 30, 2024. The Medical Center’s outstanding loan balances for the direct loan and the
guaranteed loans as of June 30, 2024, are $15,730,508 and $1,402,081, respectively.