Title: 1. Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
De Minimis Rate Used: N
Rate Explanation: Loma Linda University and LLUH-SB, Inc. uses their negotiated indirect cost rate or the rate in the grant agreement.
Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
Title: 2. Indirect Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
De Minimis Rate Used: N
Rate Explanation: Loma Linda University and LLUH-SB, Inc. uses their negotiated indirect cost rate or the rate in the grant agreement.
Loma Linda University and LLUH-SB, Inc. does not use the 10 percent de minimis indirect cost rate provided for in the Uniform Guidance.
Title: 3. Federal Student Loan Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
De Minimis Rate Used: N
Rate Explanation: Loma Linda University and LLUH-SB, Inc. uses their negotiated indirect cost rate or the rate in the grant agreement.
The federal student loan programs listed subsequently are administered directly by Loma Linda University and LLUH-SB, Inc. and balances and transactions relating to these programs are included in Loma Linda University and LLUH-SB, Inc.’s combined financial statements. The outstanding loan balances at July 1, 2022, and the loans awarded for the fiscal year ended June 30, 2023, are considered current year federal expenditures. These amounts are reported in the SEFA. The balance of loans outstanding at June 30, 2023, consists of: See the Notes to the SEFA for table.
During the fiscal year ended June 30, 2023, Loma Linda University and LLUH-SB, Inc. processed $119,573,218 of new loans under the Federal Direct Student Loans program (Assistance Listing Number 84.268). Since these loan programs are administered by outside financial institutions, new loans made in the fiscal year ended June 30, 2023, relating to these programs are considered current year federal expenditures, whereas the outstanding loan balances are not. The new loans made in the fiscal year ended June 30, 2023, are reported in the SEFA.
The calculation for Federal Direct Student Loans awarded during the fiscal year takes the total disbursements made during the fiscal year including loan activity posted outside the current fiscal year that is related to the current fiscal year. Time period for the subsequent period reviewed was based on Loma Linda University and LLUH-SB, Inc.'s accounting policy. This methodology is utilized to capture loan activity pertaining to the current fiscal year.
Title: 4. Assistance Listing Numbers
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
De Minimis Rate Used: N
Rate Explanation: Loma Linda University and LLUH-SB, Inc. uses their negotiated indirect cost rate or the rate in the grant agreement.
Research and Development programs included in the SEFA are presented by federal agency and major subdivision within the federal agency. Pass-through awards have been presented by pass-through entity, Assistance Listing Number, and sponsor’s award number, when available. In accordance with instruction distributed by the Federal Audit Clearinghouse, when Assistance Listing Numbers are not available, the federal awards are presented by agency and the suffix “U” followed by a two-digit number (e.g., U01, U02, etc.) for the federal identification numbers. If the federal program is part of the research and development cluster and the Assistance Listing Number is unknown, the federal awards are presented by agency and the suffix “RD” in the Assistance Listing three-digit extension field.
Title: 5. Provider Relief Fund
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Loma Linda University and LLUH-SB, Inc. and is presented on the accrual basis of accounting. The information in the SEFA 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 Requirement for Federal Awards (Uniform Guidance). The SEFA does not include payments received under the traditional Medicare and Medicaid reimbursement programs, as these programs are outside the scope of the Uniform Guidance. There were no donated goods and personal protective equipment received from federal sources that required recognition or disclosure in the notes to the SEFA.
De Minimis Rate Used: N
Rate Explanation: Loma Linda University and LLUH-SB, Inc. uses their negotiated indirect cost rate or the rate in the grant agreement.
The amount presented on the SEFA for Assistance Listing Number 93.498, COVID-19 – Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution, is for the year ended June 30, 2023. The amount presented reconciles to the Provider Relief Fund (PRF) information reported to the Health Resources and Services Administration (HRSA) as follows: See the Notes to the SEFA for table.
Health and Human Services (HHS) has indicated the PRF Funds on the SEFA be reported corresponding to reporting requirements of the HRSA PRF Reporting Portal. Payments from HHS for PRF are assigned to ‘Payment Received Periods’ (each, a Period) based upon the date each payment from the PRF was received. Each Period has a specified Period of Availability and timing of reporting requirements. Entities report into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
The SEFA includes $43,708 of PRF Funds received from HHS between July 1, 2021 to June 30, 2022. In accordance with guidance from HHS, these amounts are presented as Period 4 and Period 5. Such amounts were recognized as sales and service income in Loma Linda University and LLUH-SB, Inc.’s combined financial statements in the year ended June 30, 2022.