Notes to SEFA
Title: Loan Programs
Accounting Policies: The accompanying consolidated schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Good Samaritan Hospital Association and Subsidiary (the Organization) under programs of the
federal government for the year ended March 31, 2025. The information 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 Organization, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Organization.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has
been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Organization does not draw for indirect administrative expenses and has not elected to use the 10% de
minimus cost rate.
Expenditures reported in this Schedule consist of the beginning of the year outstanding loan balance plus
advances made on the loan during the year. The amount on the Schedule also includes those expenditures
incurred through March 31, 2025 that have not yet been drawn on through loan proceeds as of year-end. The
outstanding balance at March 31, 2025 was $55,243,000. Series 2023A consists of $4,000,000 and is guaranteed
at 80% or $3,200,000, Series 2023B consists of $1,000,000 and is guaranteed at 80% or $800,000, and the USDA
Direct Loan of $50,243,000.