Notes to SEFA
Title: COVID - 19 Provider Relief Fund
Accounting Policies: Note 1. Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lawrence General Hospital and Affiliates under programs of the federal government for the year ended September 30, 2022. The information in this 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 Lawrence General Hospital and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lawrence General Hospital and Affiliates. 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.
De Minimis Rate Used: N
Rate Explanation: Note 3. Indirect Cost Rate - Lawrence General Hospital and Affiliates has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule includes Provider Relief Funds expenditures of $5,027,184. These are out of-period expenditures, which are reported in accordance with the terms and conditions included in the U.S. Department of Health and Human Services Post-Payment Notice of Reporting Requirements specific to the Provider Relief Fund and ARP Rural Distribution program. The amount on the Schedule does not include lost revenue and out-of-period expenditures are not permitted concept under U.S. GAAP.
Title: Subsequent Events
Accounting Policies: Note 1. Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lawrence General Hospital and Affiliates under programs of the federal government for the year ended September 30, 2022. The information in this 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 Lawrence General Hospital and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lawrence General Hospital and Affiliates. 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.
De Minimis Rate Used: N
Rate Explanation: Note 3. Indirect Cost Rate - Lawrence General Hospital and Affiliates has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Lawrence General Hospital and Affiliates has evaluated subsequent events occurring after the consolidated statement of financial position date of September 30, 2022 through the date of January 31, 2023, except for our report on the supplemental schedule of federal expenditures of federal awards, for which the subsequent events date is June 29, 2023, which is the date of these consolidated financial statements were available to be issued. No events arose during that period that would require adjustment or additional disclosure.