Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mohawk Valley Health System and Subsidiaries 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 Mohawk Valley Health System and Subsidiaries, it is not intended to and does not present the financial position, results of operations and changes in net assets or cash flows of Mohawk Valley Health System and Subsidiaries.
Mohawk Valley Health System and Subsidiaries provided no federal awards to subrecipients for the year ended December 31, 2024.
Under the Federal Direct Student Loans Program including subsidized and unsubsidized Student Loans and Parents’ Loans for Undergraduate Students, the Mohawk Valley Health System and Subsidiaries processes student loan applications for the federal government. The amount of loans issued for the Mohawk Valley Health System and Subsidiaries students and parents for the year ended December 31, 2024 was approximately $953,000. With respect to the Federal Direct Student Loans, the Mohawk Valley Health System and Subsidiaries is only responsible for the performance of certain administrative duties; therefore, the Mohawk Valley Health System and Subsidiaries consolidated financial statements do not include any amounts relative to these loans.
Mohawk Valley Health System and Subsidiaries received an amount from the U.S. Department of Homeland Security through the Disaster Grants - Public Assistance (Presidentially Declared Disasters) (Federal Financial Assistance Listing No. 97.036) during the year ended December 31, 2024 totalling $3,728,191. Mohawk Valley Health System and Subsidiaries incurred eligible expenses and, therefore, recognized revenue consisting of $3,728,191 for the year ended December 31, 2024 in the consolidated financial statements. In accordance with the 2024 compliance supplement, the program’s expenditures recognized on the schedule are based on (1) Federal Emergency Management Agency’s approval of Mohawk Valley Health System and Subsidiaries’ Project Worksheet in 2024, and (2) Mohawk Valley Health System and Subsidiaries incurring the eligible expenditures as of December 31, 2024.