Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: Note 2 Significant Accounting PoliciesExpenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowed or are limited as to reimbursement. Passthrough entity identifying numbersare presented where available.
De Minimis Rate Used: N
Rate Explanation: Note 3 Indirect Cost RateThe Hospital has elected not to use the 10 percent de minimis indirect cost rate allowed under UniformGuidance. The Hospital's federal expenditures do not include indirect administrative expenses.e auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grants award activity of William Newton Memorial Hospital (the Hospital) under programs of the federal government for the year ended December 31, 2022. 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 notintended to and does not present the financial position, changes in net position, or cash flows of the Hospital.