Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: (See PDF page 30 in the audited financial statements) (1) BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal activity of OhioCounty Hospital Corporation (the Hospital) for the year ended September 30, 2022. The information inthis 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 selectedportion 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 POLICIESExpenditures reported on the schedule of expenditures of federal awards are reported on the accrual basisof accounting. Such expenditures are recognized following the cost principles contained in the UniformGuidance, 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 theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOAND AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 10717235.