Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards, Schedule of Expenditures of State Awards, and Supplemental Statements of Program Expenditures and Program Revenues (the “Schedules”), which include the Federal and State of New Jersey grant transactions of The Children’s Hospital of Philadelphia Foundation and Controlled Affiliates (the “Enterprise”), and the federal funds passed through the City of Philadelphia, are recorded on the cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. Because the Schedules present only a selected portion of the operations of the Enterprise, they are not intended to and do not present the financial position, changes in net assets or cash flows of the Enterprise. The information in these Schedules is presented in accordance with the requirements of Government Auditing Standards, issued by the Comptroller General of the United States; and the audit 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), the State of New Jersey Single Audit Policy Circular Letter 15-08-OMB. Negative amounts represent adjustments or credits to amounts reported as expenditures in prior years. The pass-through ID numbers were noted in the Schedule of Expenditures of Federal Awards when available.
De Minimis Rate Used: N
Rate Explanation: Expenditures consist of direct costs and indirect costs. The Enterprise applies its predetermined approved facilities and administration rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance.