Notes to SEFA
Title: Loan/Loan Guarantee Outstanding Balances
Accounting Policies: Basis of Accounting: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Illinois Critical Access Hospital Network and Related Organization, under programs of the federal government for the year ended December 31, 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 the Illinois Critical Access Hospital Network, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Illinois Critical Access Hospital Network and Related Organization. Expenditures: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Illinois Critical Access Hospital Network and Related Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Other Disclosures: There were no federal awards expended for noncash assistance or any other loans or loan guarantees outstanding at year-end.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 521,371.