Title: PROVIDER RELIEF FUND AND AMERICAN RESCUE PLAN RURAL DISTRIBUTION PROGRAM DESCRIPTION
Accounting Policies: Expenditures reported on the Schedule are reported on 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: Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
The Provider Relief Fund supports eligible health care providers in the battle against the COVID-19 pandemic. Funds are available to prevent, prepare for, and respond to coronavirus, domestically or internationally, for necessary expenses to reimburse, through grants or other mechanisms, eligible health care providers for health care-related expenses or lost revenues that are attributable to coronavirus. Eligible providers of health care, services, and support may receive Provider Relief Fund payments for health care-related expenses or lost revenues attributable to coronavirus. In addition to the Provider Relief Fund, $8.5 billion was appropriated as part of the American Rescue Plan (ARP) Act of 2021 for payments to rural providers or suppliers for health care-related expenses and lost revenues attributable to coronavirus.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on 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: Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the activity of the Provider Relief Fund and American Rescue Plan Rural Distribution Program for the year ended June 30, 2023. 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).
Expenditures reported on this Schedule are reported on accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Title: INDIRECT COST METHOD
Accounting Policies: Expenditures reported on the Schedule are reported on 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: Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
Title: PROVIDER RELIEF FUND and american rescue plan rural distribution program
Accounting Policies: Expenditures reported on the Schedule are reported on 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: Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
The Schedule includes payments from the Department of Health and Human Services for the Provider Relief Fund and American Rescue Plan Rural Distribution Program, of the following entity:
Legal Entity Name Tax Identification Number
Mercy Hospital, Iowa City, Iowa 420680391
Title: SUBSEQUENT EVENT
Accounting Policies: Expenditures reported on the Schedule are reported on 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: Indirect costs were not charged to the Provider Relief Fund and American Rescue Plan Rural Distribution Program, and therefore, Mercy did not elect the de minimis rate.
On August 7, 2023, Mercy Hospital, Iowa City, Iowa, filed for Chapter 11 bankruptcy. In November 2023, Mercy Hospital, Iowa City, Iowa entered into an agreement with the State of Iowa to sell substantially all assets of the organization, closing January 30, 2024.