Notes to SEFA
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.
Pass-through identifying numbers are presented when available.
Piggott Community Hospital did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grants activity of Piggott Community Hospital. The information in the 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 in the schedule may differ from amounts presented in, or used in the preparation of the financial statements.
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.
Pass-through identifying numbers are presented when available.
Piggott Community Hospital did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
No awards were provided to subrecipients.
Title: CONTINGENCIES
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.
Pass-through identifying numbers are presented when available.
Piggott Community Hospital did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
In connection with various federal grant programs, the Hospital is obligated to administer related programs and spend the funds in accordance with regulatory restrictions, and is subject to audit by grantor agencies and other auditors. In cases of noncompliance, the agencies involved may require the Hospital to refund program funds.
Title: FEDERAL LOANS OUTSTANDING
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.
Pass-through identifying numbers are presented when available.
Piggott Community Hospital did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Piggott Community Hospital had the following federal loan balances outstanding that are considered federal awards at December 31, 2024: USDA 10.766 $1,070,568
Title: MEDICAID FUNDING
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.
Pass-through identifying numbers are presented when available.
Piggott Community Hospital did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Piggott Community Hospital received Medicaid reimbursement for services provided to qualifying beneficiaries for the year ending December 31, 2024, as follows: Medical Assistant Program - Title XIX Funding 93.778 $356,767