Notes to SEFA
Title: CAPITAL DEVELOPMENT LOANS
Accounting Policies: 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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not have any federal loan programs during the year ended December 31, 2022.
Title: ASSISTANCE LISTING NUMBER (ALN) 93.530
Accounting Policies: 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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization received and expended funds from Affordable Care Act- Teaching Health Center Graduate Medical Education (THCGME) Payments Program. The amount of funds received during the period under audit, $1,600,000, is not included in the Schedule of Expenditures of Federal Awards above as the program, ALN 93.530, is exempt from the Uniform Guidance requirements per the program description.
Title: COVID-19 PROVIDER RELIEF FUND RECONCILIATION
Accounting Policies: 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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule includes Provider Relief Funds of $960,490 that were received in PRF Periods 3 and 4, in accordance with the requirements of the compliance supplement for ALN 93.498. For the years ended December 31, 2022 and 2021, the Organization recognized $637,252 and $323,239, respectively, in revenue from provide relief funds in the accompanying financial statements.