Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Community Memorial Hospital, Inc. (the Hospital) 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 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 financial position, changes in financial position or cash flows of the Hospital.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Hospital provided no federal awards to subrecipients for the year ended December 31, 2024.
The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reporting in the schedule under the Community Facilities Loans and Grants consist of the beginning of the year outstanding balance for the direct loan plus advances during the year. Advances during the year ended December 31, 2024 were $8,320,331. The outstanding balance at December 31, 2024 was $8,320,331 for the direct USDA loan.