Notes to SEFA
Title: A. Basis of Presentation
Accounting Policies: B. Summary of Significant Accounting Policies
The accompanying schedule of expenditures of federal awards includes the federal activity of the Organization under programs of the federal government for the year ended June 30, 2024 and is presented 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: NOT APPLICABLE
The accompanying schedule of expenditures of federal awards includes the federal awards activity of the Pender Community Hospital District (PCHD) and Pender Care Centre District Inc. (PCC) (component unit) (collectively referred to as the Organization) under programs of the federal government for the year ended June 30, 2024. 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: B. Summary of Significant Accounting Policies
The accompanying schedule of expenditures of federal awards includes the federal activity of the Organization under programs of the federal government for the year ended June 30, 2024 and is presented 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: NOT APPLICABLE
The accompanying schedule of expenditures of federal awards includes the federal activity of the Organization under programs of the federal government for the year ended June 30, 2024 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
Title: C.Loans
Accounting Policies: B. Summary of Significant Accounting Policies
The accompanying schedule of expenditures of federal awards includes the federal activity of the Organization under programs of the federal government for the year ended June 30, 2024 and is presented 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: NOT APPLICABLE
The balance of loans outstanding at June 30, 2024 consists of:
ALN Number Program Name Outstanding Balance
10.766 Department of Agriculture –
Community Facilities Loans and Grants $ 10,292,740
Title: D. Indirect Cost Rate
Accounting Policies: B. Summary of Significant Accounting Policies
The accompanying schedule of expenditures of federal awards includes the federal activity of the Organization under programs of the federal government for the year ended June 30, 2024 and is presented 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: NOT APPLICABLE
The Organization has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.