Notes to SEFA
The accompanying Consolidated Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Memorial Hospital and the entities operating under common control, Hancock County Senior and Childcare Services Association and Hancock County Supportive Living Facility (collectively, Memorial Hospital Association and Affiliates), (Organization) under programs of the federal government for the year ended December 31, 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). The Organization received federal awards both directly from federal agencies and indirectly through pass-through entities. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on this Schedule under the Community Facilities Loans and Grants Program consists of the beginning of the year outstanding loan balance of Hancock County Senior and Childcare Services Association’s two direct USDA loans of $3,311,435 and $1,754,421, as well as Memorial Hospital’s USDA direct loan of $2,373,847. If applicable, advances made on the loans during the year are reported on the Schedule. The Organization made no advances on the loans during the year ended December 31, 2025. The Hancock County Senior and Childcare Services Association’s outstanding loan balance as of December 31, 2025, are $3,194,533 and $1,694,916. The Memorial Hospital’s outstanding loan balance as of December 31, 2025, is $2,292,358.
Per the OMB Compliance Supplement, nonfederal entities must record expenditures on the schedule of expenditures of federal awards when FEMA has approved the entity’s project worksheet and the entity has incurred the eligible expenditures. The expenditures included in the schedule were incurred in prior fiscal years. These expenditures were approved for payment by the federal agency in 2025 and therefore are included in the schedule when approved.