Notes to SEFA
Title: US Department of Agriculture Loan
Accounting Policies: This Schedule of Expenditures of Federal Awards includes the federal grant activity of the Hospital and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Uniform Guidance Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The following is a summary of loan activity:Outstanding Loan, July 1, 2021 $1,706,546 Loans Acquired During the Year $0. Principal Payment Made During the Year $(58,122). Outstanding Loan, June 30, 2022 $1,648,424.