Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of CaroMont Health, Inc. and Affiliates (the “System”) under programs of the federal government for the year ended June 30, 2025. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the System, it is not intended to and does not present the financial position, changes in net position, or cash flows of the System.
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 accompanying SEFA includes expenditures for COVID-19 Disaster Grants – Public Assistance Listing No. 97.036 from June 30, 2022, 2021, and 2020 however the grant awards were approved during the year ended June 30, 2025.
The System has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.