Notes to SEFA
Title: Note 5 - Donated Personal Protective Equipment (PPE) (unaudited)
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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 auditee did not use the de minimis cost rate.
Nonmonetary assistance of PPE received during the emergency period of the COVID-19 pandemic was $-0-.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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 auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_HOSPITALS (14.128) - Balances outstanding at the end of the audit period were $21,140,623.
Title: Note 6 - Provider Relief Fund and American Rescue Plan Funds
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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 auditee did not use the de minimis cost rate.
The Hospital received amounts from the U.S. Department of Health and Human Services (HHS) through the Provider Relief Fund (PRF) program (Federal Financial Assistance Listing/CFDA #93.498) during the year ended March 31, 2021 totaling $4,544,399. In accordance with the 2021 compliance supplement, the PRF expenditures recognized on the schedule are based on the reporting for Period 1, defined as distributions received between April 10, 2020 and June 30, 2020 of $4,544,399, plus interest earned of $11,908, as required under the PRF program. The following summarizes the Provider Relief Funds and the timing of when the amounts were recognized in the financial statements: (see uploaded pdf).