Title: Note 1 – Reporting Entity Basis of Presentation and Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2 – Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
There were no subrecipients.
Title: Note 3 – Description of Major Federal Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
Community Facilities Loans and Grants – This program provides affordable funding to
develop essential community facilities in rural areas. An essential community facility is
defined as a facility as a facility that provides an essential service to the local community for
the orderly development of the community in a primarily rural area, and does not include
private, commercial, or business undertakings.
Title: Note 4 – Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
There was no non-cash assistance.
Title: Note 5 – Amount of Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
There was no insurance.
Title: Note 6 – Loans or Loan Guarantees Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
The outstanding balance of the Community Facilities loan received under assistance listing
number, 10.766 was $12,520,000 at December 31, 2024.
Title: Note 7 – Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of the Organization. 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
(Uniform Guidance). Therefore, some amounts presented on this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The client did not use the de minimis cost rate.
The Hospital did not use the indirect cost rate.