Notes to SEFA
Title: Note 5: Loans
Accounting Policies: Note 1: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Medical Center under programs of the federal government for the year ended December 31, 2022. The information in the 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 Medical Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Medical Center. Note 2: Summary of Significant 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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the UniformGuidance and does not draw for indirect costs.
The balance of the loans outstanding at December 31, 2022 consists of: Federal Assistance Listing Number - 10.766; Program/Cluster Name - Community Facilities Loans and Grants Cluster; Outstanding Balance - $27,331,991
Title: Note 4: Provider Relief Funds/American Rescue Plan (ARP) Rural Distribution
Accounting Policies: Note 1: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Medical Center under programs of the federal government for the year ended December 31, 2022. The information in the 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 Medical Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Medical Center. Note 2: Summary of Significant 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. No federal assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Medical Center has elected not to use the 10-percent de minimus indirect cost rate allowed under the UniformGuidance and does not draw for indirect costs.
The Medical Center received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution program (Federal Assistance Listing #93.498) during the year ended December 31, 2022. The Medical Center incurred eligible expenditures and, therefore, recognized revenue totaling $133,887 and $1,179,233 for the year ended December 31, 2022, respectively in the financial statements. In accordance with the compliance supplement, the PRF expenditures recognized on the schedule are based on the reporting to HHS for the period ending December 31, 2022, as required under the PRF program. The amount of PRF expenditures included on the schedule requires management to make estimates and assumptions that affect the reported amounts. Accordingly, such expenditures are considered a significant estimate. Estimates and assumptions may include reducing actual expenses by amounts than have been reimbursed or are obligated to be reimbursed by other sources. Actual results could differ from those estimates.