Audit 40510

Accounting Policies: Note 1 - Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes federal grant activity of Blount Memorial Hospital, Inc. (the Hospital) under programs of the federal government for the year ended June 30, 2022. The information in the 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, change in net position, or cash flows of the Hospital.Note 2 - Summary of Significant Accounting PoliciesExpenditures 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.Note 3 - Indirect Cost RateThe Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.Note 4 - Tax Identification NumbersThe tax identification number for Blount Memorial Hospital is 62-0505512, and the tax identification number for Blount Memorial Physician Group, a blended component unit of the Hospital, is 62-1866708.Note 5 - Expenditures Incurred in a Prior YearExpenditures reported under Assistance Listing Number 97.036 were incurred by the Hospital in prior years. Expenditures totaling $1,382,492 were incurred during the year ended June 30, 2021 and expenditures totaling $474,959 were incurred during the year ended June 30, 2020. In accordance with reporting guidance, these prior year expenditures are included in the schedule for 2022 for compliance reporting. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.