Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Hospital Development Company (d/b/a Roane General Hospital) (the Hospital) under programs of the federal government for the year ended September 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 Hospital, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Hospital.
The Schedule includes loans and loan guarantees totaling $23,851,928 received or guaranteed by the U.S. Department of Agriculture (USDA) during the year, which includes current-year loan draws of $1,569,854 related to a USDA loan agreement entered into in February 2025. There were no interest subsidies, cash or administrative cost allowances received during the year ended September 30, 2025. The balance of the loans and loan guarantees as of September 30, 2025 amounted to $23,249,295.
The Schedule includes $290,520 received from the U.S. Department of Health and Human Services in accordance with the Uniform Guidance. Such amounts were recognized as grants for capital acquisitions as a component of net assets with donor restrictions in the Hospital's financial statements for the year ended September 30, 2025.