Audit 360258

Accounting Policies: Notes to Schedule of Expenditures of Federal Awards: 1. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Madison County Health and Hospital District (District) 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 District, it is not intended to and does not present the financial position, change in net position, or cash flows of the District. 2. Expenditures reported on the Schedule are reported on the accrual basis of accounting which is consistent with the preparation of the District’s financial statements. 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. 3. The District did not have any non-cash awards during the fiscal year. 4. There were no awards passed through to subrecipients. 5. The District has elected to not use the 10% de minimis indirect cost rate under the Uniform Guidance. 6. Federal expenditures 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 for the year ended September 30, 2024. The balance of the loan outstanding as of September 30, 2024 is $20,077,477. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.