Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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 Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “SEFA”)
summarizes expenditures of West Tennessee Healthcare and Related Affiliates (the "Company") under
programs of the federal and state governments for the year ended June 30, 2024. 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
(“Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the
Company, it is not intended to and does not present the financial position, changes in net position, or cash flows
of the Company.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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 Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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: Pass-through Awards
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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 Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
No federal or state awards were passed through to subrecipients.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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 Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
The Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
Title: Contingencies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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 Company has elected not to use the 10% de minimis indirect cost rate allowed by Uniform Guidance.
The Company's federal programs are subject to financial and compliance audits by grantor agencies which, if
instances of material noncompliance are found, may result in disallowed expenditures and affect the
Company's continued participation in specific programs.