Notes to SEFA
Title: A. Basis of Presentation
Accounting Policies: A. Summary of Significant Accounting Policies Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: NA
The accompanying Schedule of Expenditures of Federal Awards includes the federal awards activity of the Hospital under programs of the federal government for the year ended December 31, 2023. The accompanying schedule presents total expenditures in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements.
Title: B. Summary of Significant Accounting Policies
Accounting Policies: A. Summary of Significant Accounting Policies Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: NA
Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
Title: C. USDA Loans
Accounting Policies: A. Summary of Significant Accounting Policies Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: NA
The ending outstanding balance as of December 31, 2023 was as follows:
Federal
Financial
Program/ Assistance
Cluster Name Listing Number Outstanding Balance
Department of Agriculture – Community
Facilities Loans and Grants Cluster 10.766 $ 7,668,634
Title: D. Indirect Cost Rate
Accounting Policies: A. Summary of Significant Accounting Policies Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: NA
The Hospital has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.