Notes to SEFA
Title: Disaster Grants Public Assistance Program (ALN 97.036)
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Holland Hospital and Affiliated Entity (the “Hospital”) under programs of the federal government for the year ended March 31, 2024. The information in the 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 (the “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 assets, or cash flows of the Hospital. Expenditures reported in the Schedule are reported on accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Hospital has elected not to use the 10 percent indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10 percent I indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
Included in the Schedule for the year ended March 31, 2024 is $442,681 of expenditures incurred, under Assistance Listing Number 97.036, COVID 19: Disaster Grants Public Assistance (Presidentially Declared Disasters), in previous fiscal years. The project worksheet for these expenditures was approved in the current fiscal year, and these expenditures have been reported in the current fiscal year in accordance with the reporting requirements outlined in the 2023 Compliance Supplement.