Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Jacobson Memorial Hospital Care Center and Subsidiary (Hospital) under programs of the federal government for the year ended June 30, 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). 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.
Expenditures reported in this consolidated schedule consist of three separate loans. For the first two loans, the expenditures reported represents the beginning of the year outstanding loan balances plus advances made on the loans during the year, if applicable. The outstanding balances as of June 30, 2025 for these two loans were $438,637 and $843,390, respectively. The third loan is guaranteed by the United States Department of Agriculture (USDA) for up to 90% of the loan principal. Total expenditures reported represents 90% of the beginning of the year outstanding loan balances plus 90% of advances made on the loan during the year, if applicable. The outstanding balance as of June 30, 2025 for this loan was $391,532, of which 90% totals $352,379.