Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. As outlined in the May 2022 OMB Compliance Supplement, the amounts reported in the accompanying SEFA related to the Provider Relief Fund (PRF), CFDA No. 93.498, are reported based upon the PRF reporting portal submission guidelines established by the Health Resource and Service Administration (HRSA). Five separate reporting periods were established by HRSA based on the dates of receipt of PRF payments. Each reporting period has a specific period of availability which begins on January 1, 2020 and extends through specified deadlines, as indicated below: The accompanying SEFA includes those qualifying expenditures and lost revenues that were reported in the HRSA PRF portal for Period 2. Peterson Health did not receive any payments during Period 3. During the fiscal year ended June 30, 2021, $172,345 in PRF payments was recognized by Peterson Health as Provider Relief Funds. Lost revenues are reported based on the HRSA Option 1 reporting of lost revenues by comparing actual revenues by quarter during the period of availability to the actual (prior to March 27, 2020) amounts for similar quarters.
De Minimis Rate Used: N
Rate Explanation: Peterson Health has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Sid Peterson Memorial Hospital d/b/a Peterson Health (Peterson Health) under the programs of the federal government for the year ended June 30, 2022. The information in this SEFA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). All federal awards received directly and indirectly from federal agencies are included in this SEFA. Because the SEFA presents only a selected portion of the operations of Peterson Health, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Peterson Health.