Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of Cameron Memorial Community Hospital (the “Hospital”). 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 (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.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
Title: Note 3: Indirect Cost
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4: Subrecipients
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital passed no federal awards through to subrecipients.
Title: Note 5: Balance of Outstanding Loans
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. There were no new loans received during the year ended September 30, 2024, and the balance of the outstanding loans and guaranteed loan balances under the Community Facilities Loans and Grant Program at September 30, 2024 were as follows: See the Notes to the SEFA for chart/table