Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal award activity of Wagner Community Memorial Hospital and Subsidiary (the Hospital) 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 Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Hospital.
Expenditures reported in this schedule consist of the beginning of the year outstanding balance for the direct loans and a guaranteed loan. There were no loan advances during the year ended June 30, 2025. Amounts reported on the schedule include two direct loans and a guaranteed loan. The guaranteed loan is guaranteed by the U.S. Department of Agriculture for up to 90% of the loan. Accordingly, total expenditures reported on the schedule under the guaranteed loan represent 90% of the beginning balance of the guaranteed loan. The outstanding balance at June 30, 2025 was $953,147 for the 2008 direct loan, $1,215,051 for the 2010 direct loan, and $713,339 for the 2008 guaranteed loan.