Notes to SEFA
Title: NONCASH ASSISTANCE AND INSURANCE
Accounting Policies: Expenditures for federal programs are recognized as incurred using the accrual basis of accounting and the cost of accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Chestnut Health Systems, Inc. and is presented on the accrual basis. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Chestnut Health Systems, Inc. elected to not use the de minimis rate as allowed under the Uniform Guidance.
Chestnut did not receive or consume any form of noncash assistance or insurance in effect during the fiscal year ended June 30, 2024
Title: LOANS OUTSTANDING
Accounting Policies: Expenditures for federal programs are recognized as incurred using the accrual basis of accounting and the cost of accounting principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Chestnut Health Systems, Inc. and is presented on the accrual basis. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Chestnut Health Systems, Inc. elected to not use the de minimis rate as allowed under the Uniform Guidance.
Chestnut Health Systems, Inc. did not have any loan balances outstanding at June 30, 2024, related to any of the programs included in the federal expenditures presented in the schedule of federal expenditures of federal awards.