Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Pipestone County Medical Center (Medical Center) under programs of the federal government for the year ended June 30, 2025. 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 Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Medical Center.
Expenditures reporting in this schedule consist of the beginning of the year outstanding balance for the Series 2016A and 2016B Medical Center Revenue Bonds directly with United Stated Department of Agriculture (USDA). There were no loan advances during the year ended June 30, 2025. The outstanding balance at June 30, 2025 was $15,696,854 for the Series 2016A and 2016B bonds.