Notes to SEFA
Title: NOTE 3 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (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: The System has not elected to use the 10% de minimis indirect cost rate allowed under Section 200.414 of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Minnie Hamilton Health System (System) under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 System, it is not intended to and does not present the financial position, changes in net assets or cash flows of the System.
Title: NOTE 4 - GRANTS FOR CAPITAL ACQUISITIONS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (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: The System has not elected to use the 10% de minimis indirect cost rate allowed under Section 200.414 of the Uniform Guidance.
The Schedule includes $2,041,408 from the Appalachian Regional Commission and $337,913 from the Health Resources and Services Administration in accordance with the Uniform Guidance. Such amounts were recognized as grants for capital acquisitions as a component of net assets with donor restrictions in the System's financial statements for the year ended December 31, 2024.