Notes to SEFA
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award activity of Winneshiek Medical Center d/b/a WinnMed (Medical Center) 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 Medical Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Medical Center.
Expenditures reported on this Schedule under the Community Facilities Loans and Grants Program consists of the beginning of the year outstanding loan balance of the Medical Center’s USDA direct loans of $50,191. If applicable, advances made on the loans during the year are reported on the Schedule. The Medical Center made advances of $18,653,265 on the loans during the year ended June 30, 2025. The Medical Center’s outstanding loan balance for the direct loans as of June 30, 2025, is $18,703,456. Expenditures reported on this Schedule under the Rural Economic Development Loans and Grants consists of the beginning of the year outstanding loan balance of the Medical Center’s direct loans of $0. Advances made on the loans during the year are reported on the Schedule. The Hospital made advances of $2,000,000 on the loans during the year ended June 30, 2025. The Medical Center’s outstanding loan balance for the direct loans as of June 30, 2025, is $2,000,000.