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, as applicable, 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 Hospital elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activity of Santiam Memorial Hospital (an Oregon nonprofit corporation) and its subsidiaries, collectively
doing business as (dba) “Santiam Hospital” (the Hospital), under programs of the federal government for
the year ended December 31, 2024. The information in the 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 consolidated financial position, results of operations, changes in net assets,
or cash flows of the Hospital.
The Hospital's reporting entity is defined in Note 1 of the consolidated financial statements. All federal
awards from federal agencies are included in the Schedule. The Schedule includes the government grant
income of the Hospital with the Tax Identification Number of 93-0415219.
Title: Loan Guarantee Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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 Hospital elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The United States Department of Housing and Urban Development has insured certain mortgage loan borrowings undertaken by the Hospital in connection with capital projects and has imposed continuing compliance requirements. The balance of the insured loan and the related transactions are reported in the Hospital's basic consolidated financial statements. The guaranteed loan was fully drawn down in December 2014 and remains outstanding as of December 31, 2024. The outstanding balance of the guaranteed loan at the beginning of 2024 totaling $19,453,592 is included in the federal expenditures presented in the Schedule.
The outstanding balance of the guaranteed loan totaled $18,396,574 as of December 31, 2024.
Title: Noncash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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 Hospital elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Hospital did not receive any noncash assistance during the year ended December 31, 2024.