Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of theOrganization under programs of the federal government for the year ended December 31, 2022. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does notpresent the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 29414730.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of theOrganization under programs of the federal government for the year ended December 31, 2022. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does notpresent the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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. No federal assistance has been provided to a subrecipient.
Title: Provider Relief Funds and American Rescue Plan (ARP) Rural Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of theOrganization under programs of the federal government for the year ended December 31, 2022. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does notpresent the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution program (Federal Assistance Listing #93.498) during the year ended December 31, 2021. The Organization incurred eligible expenditures and, therefore, recognized revenue for the year ended December 31, 2021, respectively in the financial statements. In accordance with the compliance supplement, the PRF expenditures recognized on the schedule are based on the reporting to HHS for the period ending December 31, 2022, as required under the PRF program.The amount of PRF expenditures included on the schedule requires management to make estimates and assumptions that affect the reported amounts. Accordingly, such expenditures are considered a significant estimate. Estimates and assumptions may include reducing actual expenses by amounts than have been reimbursed or areobligated to be reimbursed by other sources. Actual results could differ from those estimates.