Notes to SEFA
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of Bisbee Hospital Association, Inc. d/b/a Copper Queen Community Hospital (the “Organization”). 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 Audit Requirements for Federal Awards (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures on the Schedule are reported on the accrual basis of accounting and 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 Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization passed no federal awards through to subrecipients.
The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. There were no new loans received during the year ended June 30, 2025. Program Name Outstanding Balance at June 30, 2025 Maturity Date Community Facilities Loans and Grants - Rural Development 2012 $5,791,235 August 2052