Title: Note 1 Basis of Presentation
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (“PRF”), 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.
The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported
on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and
amounts reported in the PRF portal for the reporting Period 5, due September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A - Did not use the de minimis cost rate as no indirect costs.
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of
Bisbee Hospital Association, Inc. d/b/a Copper Queen Community Hospital (the “Organization”). 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
Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Organization.
Title: Note 3 Indirect Cost
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (“PRF”), 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.
The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported
on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and
amounts reported in the PRF portal for the reporting Period 5, due September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A - Did not use the de minimis cost rate as no indirect costs.
The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: Note 4 Subrecipients
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (“PRF”), 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.
The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported
on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and
amounts reported in the PRF portal for the reporting Period 5, due September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A - Did not use the de minimis cost rate as no indirect costs.
The Organization passed no federal awards through to subrecipients.
Title: Note 5 Balance of Outstanding Loans
Accounting Policies: With the exception of expenditures related to the Provider Relief Fund (“PRF”), 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.
The PRF is not subject to cost principles requirements contained in the Uniform Guidance. Expenditures reported
on the Schedule for PRF are based on the PRF period of availability, terms and conditions of the PRF program, and
amounts reported in the PRF portal for the reporting Period 5, due September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A - Did not use the de minimis cost rate as no indirect costs.
The loan balances outstanding at the beginning of the year are included in the federal expenditures
presented in the Schedule. There are no new loans received during the year ended June 30, 2024. Program Name Community Facilities Loans and Grants - Rural
Development 2012 Outstanding Loan Balance at June 30 ,2024 $5,919,163 Maturity Date August 2052