Notes to SEFA
Title: Provider Relief Fund Reporting
Accounting Policies: A. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal awardsactivity of Cozad Hospital District No. 2, D/B/A Cozad Community Health System (the HealthSystem) under programs of the federal government for the year ended April 30, 2022. Theaccompanying schedule presents total expenditures in accordance with Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, the amountspresented in this schedule may differ from the amounts presented in, or used in, thepreparation of the basic financial statements.B. Summary of Significant Accounting PoliciesThe accompanying schedule of expenditures of federal awards includes the federal activityof the Health System under programs of the federal government for the year ended April 30,2022 and is presented on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Provider relief funds (PRF) are to be reported during four separate time periods. Period 1reporting encompassed all PRF received from April 10, 2020 through June 30, 2020 with ameasurement date for use of funds through June 30, 2021. Period 2 reporting includes allPRF received from July 1, 2020 through December 31, 2020 with a measurement date foruse of funds through December 31, 2021. Period 3 reporting includes all PRF received fromJanuary 1, 2021 through June 30, 2021 with a measurement date for use of funds throughJune 30, 2022. Period 4 reporting includes all PRF received from July 1, 2021 toDecember 31, 2021 with a measurement date for use of funds through December 31, 2022.Accordingly, the amounts included on the accompanying schedule of expenditures of federalawards are for PRF subject to Period 1 and Period 2 reporting. As previously noted, the PRF reporting timeline for Period 1 and Period 2 use of funds runsfrom April 10, 2020 through April 30, 2022. This has resulted in the Health Systemsrecognition and reporting for financial statement purposes not matching with the PRFreporting timeline. A reconciliation of total expenditures of PRF awards to amountsrecognized in the Health Systems financial statements is as follows:Total PRF amounts included in the Expenditures of Federal Awards $ 4,846,832Amounts reported in the audited financialstatements, in the Statements of Operations:Grants - COVID-19 programs FY2020 $ 407,344Grants - COVID-19 programs FY2021 2,400,005Grants - COVID-19 programs FY2022 2,030,420Investment income FY2021 7,633Investment income FY2022 1,430$ 4,846,832