Audit 37232

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note A - Basis of PresentationThe accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity ofGeorgia Mountains Health Services, Inc. under programs of the federal government for the fiscal year endedNovember 30, 2022. 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 AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of theoperations of Georgia Mountains Health Services, Inc., it is not intended to and does not present the financial position,changes in net assets, or cash flows of Georgia Mountains Health Services, Inc.Note B - Summary of Significant Accounting PoliciesExpenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustmentsor credits made in the normal course of business to amounts reported as expenditures in prior years.Note C - Indirect Cost RateGeorgia Mountains Health Services, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed underthe Uniform Guidance.Note D - LoanThe Community Loan Programs balance of $1,508,161 represents loan principal only. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 1508161.