Notes to SEFA
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.