Title: Reporting Entity
Accounting Policies: The accounting policies and presentation of the Single Audit Report of Trenton Medical Center, Inc. d/b/a Palms Medical Group have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the 10 percent de minimis indirect cost rate.
The reporting entity consists of Trenton Medical Center, Inc. d/b/a Palms Medical Group. The Organization includes a schedule of expenditures of federal awards in the Single Audit and Compliance Section.
Title: Basis of Accounting
Accounting Policies: The accounting policies and presentation of the Single Audit Report of Trenton Medical Center, Inc. d/b/a Palms Medical Group have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the 10 percent de minimis indirect cost rate.
The accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards. Under the accrual basis, revenues are recognized when they become earned. Expenses generally are recorded when a liability is incurred.
Title: Sub recipients
Accounting Policies: The accounting policies and presentation of the Single Audit Report of Trenton Medical Center, Inc. d/b/a Palms Medical Group have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the 10 percent de minimis indirect cost rate.
The Organization had no subrecipients during the fiscal year
Title: Program Income
Accounting Policies: The accounting policies and presentation of the Single Audit Report of Trenton Medical Center, Inc. d/b/a Palms Medical Group have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the 10 percent de minimis indirect cost rate.
The Organization incurred program income, as described in 42 USC 254b(e)(5)(A)(ii), which totaled $37,610,955. These funds were used in accordance with 42 USC 254b(e)(5)(D).