Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in 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 financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Hospital does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Memorial Hospital of Converse County, a component unit of Converse County, Wyoming, and Converse County Hospital Foundation, Inc. (Foundation) and Summit Memorial Management LLC (Summit), discretely presented component units of Memorial Hospital of Converse County (collectively the Hospital), under programs of the federal government for the year ended June 30, 2023. 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 position, or cash flows of the Hospital.
Title: Provider Relief Funds
Accounting Policies: Expenditures reported in 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 financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Hospital does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.
The Hospital received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund and American Rescue Plan Rural Distribution (PRF) program (Federal Financial Assistance Listing #93.498) during the year ended June 30, 2023. The Hospital incurred eligible expenditures, including lost revenue, and therefore, recognized revenues totaling $1,014,123 for the year ended June 30, 2022 and $814,123 for the year ended June 30, 2023 on the financial statements. In accordance with the 2023 compliance supplement, the PRF expenditures recognized on the schedule are based on the reporting to HHS for Period 4, defined as payments received during July 1, 2021 to December 31, 2021 of $1,604,755 which includes interest earned of $5,568, as required under the PRF program.