Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Vandalia Health, Inc. and Subsidiaries (the “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”).
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 where applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass‐through entity identifying numbers are presented where available. For the purposes of the Schedule, federal awards include the following: • Direct federal awards • Pass-through funds received from nonfederal organizations under federally sponsored programs conducted by those organizations
The System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The System made $43,820 subrecipient disbursements to its subrecipient, Thomas Health Physician Partners, Inc., during the year ended December 31, 2024.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766)—loan balances outstanding at the end of the audit period were $21,755,427.