Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the North Custer Hospital District (the District) under programs of the federal government for the year ended September 30, 2022. The information 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 District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
Title: RECONCILIATION TO THE FINANCIAL STATEMENTS
Accounting Policies: 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The financial statements reflect revenue recognized from the Provider Relief Fund (PRF) of $39,310 and $69,182 for the years ended September 30, 2022 and 2021, respectively. $23,344 is included as a refundable advance at year ended September 30, 2022. PRF funds received during the fiscal year include $62,654 of Period 4 funds. The Schedule includes $0 of expenditures of PRF in accordance with the requirements of the compliance supplement for assistance listing number 93.498.