Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Summary of Significant Accounting Policies: With the exception of expenditures related to the Provider Relief Funds (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 periods 2 and 3.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost: 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 Marshall Browning Hospital Association (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 4: Subrecipients
Accounting Policies: Summary of Significant Accounting Policies: With the exception of expenditures related to the Provider Relief Funds (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 periods 2 and 3.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost: 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: Summary of Significant Accounting Policies: With the exception of expenditures related to the Provider Relief Funds (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 periods 2 and 3.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost: The Hospital has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Section 242 Mortgage Insured Loan amount represents the balance of the loan outstanding as of June 30, 2022. The loan is subject to restrictive covenants, including restrictions on additional long-term borrowings and prepayment of the outstanding obligation. Under the terms of the HUD-insured mortgage loan, the Hospital is required to maintain certain deposits with a trustee. Such deposits are included in assets whose use is limited. The Hospital's loan balance outstanding as of June 30, 2022 was $8,364,091.