Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Greater Regional Medical Center under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Greater Regional Medical Center, it is not intended to and does not present the financial position, changes in financial position or cash flows of Greater Regional Medical Center.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
Expenditures reported in 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.
Title: NOTE 3 INDIRECT COST RATE
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: Y
Rate Explanation: SEE FORM BEHIND FOR ANY ADDITIONAL INFORMATION.
Greater Regional Medical Center has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.