Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Peninsula Community Health Services of Alaska, Inc. under programs of the federal government for the year ended December 31, 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 Peninsula Community Health Services of Alaska, Inc., it is not intended to and does not present the financial statements of Peninsula Community Health Services of Alaska, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Peninsula Community Health Services of Alaska, Inc. has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.
PCHSAK Inc.’s building was funded by the United States Department of Agriculture. Balances relating to this program are included in PHCSAK Inc.’s financial statements. The loans have continuing compliance requirements and the outstanding balances are reflected on the Schedule. No new loans were issued during the fiscal year ended December 31, 2025. The balance of the loans outstanding at December 31, 2025 were $1,820,832.