Notes to SEFA
Title: Basis of Presentation
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected 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
award activity of Moab Valley Healthcare, Inc. doing business as Moab Regional Hospital (the
Hospital) under programs of the federal government for the year ended December 31, 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 the Hospital, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the Hospital.
Title: Loan and Loan Guarantee
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Hospital has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
As of December 31, 2024, the Hospital has outstanding loans under the U.S. Department of
Agriculture’s Community Facilities Loans and Grants program, which includes both a direct loan and
a guaranteed loan. The balance included on the Schedule represents 100 percent of the notes payable
balance as of January 1, 2024, plus any additional borrowings under the note payable agreements
during 2024. The aggregate balance of the direct loan and guaranteed loan as of December 31, 2024,
was $46,555,676.