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 Center 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 Adams County Health Center, Inc. (the Center) under programs of the federal government for the year ended September 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 the Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center.
Title: Loan
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 Center has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Included in the accompanying Schedule are funds spent on the Center’s construction of a new clinic building in Council, Idaho. The construction was funded by interim financing from U.S. Bank. A United States Department of Agriculture Rural Development direct loan was used to repay the interim financing when construction was completed in 2024. The balance of the direct loan and at September 30, 2024, was $2,032,825.