Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Endless Mountains Health Systems, Inc. and its affiliate, Endless Mountains Medical Care Foundation (collectively, the Organization) under programs of the federal government for the year ended December 31, 2024. 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 Organization, it is not intended to and does not present the combined financial position, combined changes in net assets or combined cash flows of the Organization.
The Schedule includes $21,421,906 received from the USDA. In accordance with the guidance from the USDA, this amount represents the full outstanding balance on the note at the beginning of the audit period (i.e., the December 31, 2023 balance). There were no interest subsidies, cash, administrative cost allowances or new loans made or received during the year ended December 31, 2024 (the audit period covered by the Schedule). The outstanding balance on the loan as of June 30, 2024 was $20,981,682.