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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Georgia Mountains Health Services, Inc. under programs of the federal government for the fiscal year ended November 30, 2024. 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”). Because the Schedule presents only a selected portion of the operations of Georgia Mountains Health Services, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Georgia Mountains Health Services, Inc.
Title: Summary of Significant Accounting Policies
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Non-Cash Awards
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization did not receive any non-cash awards during the fiscal year.
Title: Subrecipients
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no awards passed through to subrecipients.
Title: Loans
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Georgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures of federal awards under loan programs include any new loans made during the year and loans outstanding at the beginning of the year for which there are continuing compliance requirements. There were no new loans made during the year ended November 30, 2024. The outstanding balance of loans held by the Organization as of November 30, 2024 is $5,555,410.