Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2024, the Hospital did not elect to use this rate.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Hospital under programs of the federal government for the year ended September 30, 2024. 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). Because the Schedule presents only a selected portion of the operations of the Hospital, it is not intended to and does not present the net position, changes in net position, or cash flows of the Hospital.
Title: Loan / Loan Guarantee Outstanding Balances
Accounting Policies: Note 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended September 30, 2024, the Hospital did not elect to use this rate.
The Hospital had no federal loans or loan guarantees outstanding during the year ended September 30, 2024.