Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Salem Township Hospital (the “Hospital”) under programs of the federal government for the year ended March 31, 2025. The information in this Schedule is presented in accordance with 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 net 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 federal programs listed subsequently are administered directly by the Hospital, and balances and transactions relating to these programs are included in the Hospital’s financial statements. Loans outstanding as of the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2025, consist of:
During 2025, the Hospital did not receive material donated personal protective equipment from federal sources.
The Hospital has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.