Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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 elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of South Big Horn County Hospital District d/b/a Three Rivers Health ("Hospital") under programs of the federal governments for the year ended June 30, 2023. The information in this Schedule is presented in accordance with requirements of the 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: Subrecipients
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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 elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The Hospital passed no federal awards through to subrecipients.
Title: Community Facilities Loans
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting and 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 elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The Hospital has outstanding loans with the U.S. Department of Agriculture. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The Hospital received no additional loans during the year. The balance of the loans outstanding at June 30, 2023 are $4,673,404.