Notes to SEFA
Basis of Presentation and Accounting The accompanying Schedule of Expenditures of Federal Awards (the Schedule) is presented using the accrual basis of accounting and summarizes the expenditures of Owensboro Health, Inc. and affiliated entities (the System) under programs of the federal government for the year ended May 31, 2025. 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, results of operations, changes in net assets, and cash flows of the System. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the System, the agencies and departments of the federal government, and all subawards to the System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The information in the Schedule is presented in accordance with the provisions of the Uniform Guidance. The System has not elected to use the de minimis indirect cost rate as permitted under the Uniform Guidance, Section 200.414.