Notes to SEFA
Title: (1) Basis of Presentation
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Association of CHRMC (Children’s Hospital and Regional Medical Center) and University Physicians (collectively, the Association) under programs of the federal government for the year ended June 30, 2021. The information in this Schedule is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations Part 200 (2 CFR 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Association, it is not intended to and does not present the balance sheet, statements of revenues, expenses, and changes in net assets, or cash flows of
the Association.
Title: (2) Summary of Significant Accounting Policies
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: (3) Indirect Cost Rate
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Association has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: (4) Personal Protective Equiment Receipts (unauditited)
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Association has not received any donated personal protective equipment (PPE) from various governmental entities.