Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement. No federal assistance has beenprovided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Phillips County Hospital Association under programs of the federal government for the year ended April 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal 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 Phillips County Hospital Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Phillips County Hospital Association.
Title: Provider Relief Fund and American Rescue Plan Funds
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement. No federal assistance has beenprovided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Phillips County Hospital Association received $249,604 and $2,919,015 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/CFDA #93.498) during the years ended April 30, 2022 and 2021, respectively. In accordance with the 2021 compliance supplement, the PRF expenditures recognized on theschedule are based on the reporting to HHS for Period 1, defined as payments received during April 10, 2020 to June 30, 2020 of $2,919,015 plus interest earned of $2,817, as required under the PRF program. (see schedule in financial statements and SEFA submitted)