Notes to SEFA
Title: Provider Relief Fund
Accounting Policies: (2) Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or 45 CFR Part 75 Appendix IX, Principles for Determining Costs Applicable to Research and development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amount presented in, or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Provider Relief Fund expenditures reported on the Schedule include the payments received from June 1, 2020 - June 30, 2021 totaling $50,427,910 and include the following providers and amounts reported for period 2 and period 3 in the PRF Reporting Portal. See the Notes to the SEFA for charts or tables.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: (2) Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or 45 CFR Part 75 Appendix IX, Principles for Determining Costs Applicable to Research and development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amount presented in, or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
FEDERAL DIRECT STUDENT LOANS (84.268) - Balances outstanding at the end of the audit period were 1,543,263.
Title: Basis of Presentation
Accounting Policies: (2) Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or 45 CFR Part 75 Appendix IX, Principles for Determining Costs Applicable to Research and development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amount presented in, or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activities of Tower Health and Subsidiaries (the System) under programs of the federal government for the year ended June 30, 2022. The School of Health Sciences (the School) provides a program of classroom and clinical preparation for the nursing profession and other allied health professionals. 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). The Schedule presents only a selected portion of the operations of the System, and it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of the System. There were no federal funds passed through to subrecipients for the year ended June 30, 2022.