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 auditee did not use the de minimis cost rate.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the Provider Relief Funds received during the period of July 1, 2020 through December 31, 2020 with a deadline for use of December 31, 2021 in accordance with HRSA guidelines. 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. Because the Schedule presents only a selected portion of the operations of Winston County Medical Foundation and Subsidiaries d/b/a Winston Medical Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Winston County Medical Foundation and Subsidiaries d/b/a Winston Medical Center.
Title: Other Information
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 auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule as COVID-19 Provider Relief Funds are based upon the Provider Relief Fund reporting portal submission two (2) which covers Provider Relief Fund payments received by Winston County Medical Foundation and Subsidiaries d/b/a Winston Medical Center from July 1, 2020 through December 31, 2020.