Notes to SEFA
Title: Note 1: 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. Negative amounts shown on the Schedule represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% 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
Ephraim McDowell Health, Inc. (Corporation) under programs of the federal government for the year ended
September 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 Corporation, it is not intended to and does not present the financial position, changes in net
assets or cash flows of the Corporation.
Title: Note 2: 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. Negative amounts shown on the Schedule represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the 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. Negative amounts shown on the Schedule represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3: 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. Negative amounts shown on the Schedule represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4: Federal Loan Programs
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. Negative amounts shown on the Schedule represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan program listed subsequently is administered directly by the Corporation, and balances and
transactions relating to this program are included in the Corporation’s basic financial statements. Loans outstanding
at the beginning of the year and loans made during the year are included in the federal expenditures presented in
the Schedule. The balance of the loan outstanding at September 30, 2024 consists of: Assistance
Listing
Number Program Name
Outstanding
Balance at
September 30,
2024
10.766 Community Facilities Loans and Grants $2,467,189