Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the federal expenditures of Calhoun Liberty Hospital (the “Hospital”) 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 the Hospital, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Hospital.
The amounts reflected in the financial reports submitted to the awarding Federal, State and/or passthrough agencies and the Schedule may differ. Some of the factors that may account for any difference include the following: The Hospital’s fiscal year-end may differ from the program's year-end. Accruals recognized in the Schedule, because of year-end procedures, may not be reported in the program financial reports until the next program reporting period. Fixed asset purchases and the resulting depreciation charges are recognized as fixed assets in the Hospital's financial statements and as expenditures in the program financial reports.
The Hospital is the subrecipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as “pass-through” are considered direct.
Grant monies received and disbursed by the Hospital are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Hospital does not believe that such disallowance, if any, would have a material effect on the financial position of the Hospital. As of December 31, 2025, there were no known material questioned or disallowed costs as a result of grant audits in process or completed.
The Hospital did not receive any noncash assistance or federally funded insurance during the year ended December 31, 2025.
During the year ended December 31, 2025, the Hospital had no subrecipients.
The Hospital had $45,631 of federal loans outstanding during the year ended December 31, 2025.