Notes to SEFA
Title: NOTE 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: N
Rate Explanation: Valley Children’s Healthcare has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Valley Children’s Healthcare under programs of the federal government for the year ended September 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of Valley Children’s Healthcare, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Valley Children’s Healthcare. The Schedule includes expenditures of federal awards from Valley Children’s Hospital (Taxpayer Identification Number 94-1294954), Valley Children’s Medical Group (Taxpayer Identification Number 46-4150987), and Valley Children’s Primary Care Group (Taxpayer Identification Number 47-1408754).
In accordance with guidance from the U.S. Department of Health and Human Services (DHHS), Valley Children’s Healthcare included the Reporting Periods 4 and 5 expenditures for Provider Relief Fund Assistance Listing No. 93.498 of $23,855,607 in the Schedule for the year ended September 30, 2023, to align with DHHS reporting guidelines. In accordance with U.S. GAAP, the total amount of $23,855,607 of Provider Relief Fund assistance received by Valley Children’s Healthcare was recognized as revenue during the years ended September 30, 2022 and is included in beginning net assets as of and for the year ended September 30, 2023.
Title: NOTE 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: N
Rate Explanation: Valley Children’s Healthcare has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
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.
Title: NOTE 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: N
Rate Explanation: Valley Children’s Healthcare has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Valley Children’s Healthcare has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Title: NOTE 4 - SUBRECIPIENT AWARDS
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: N
Rate Explanation: Valley Children’s Healthcare has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Valley Children’s Healthcare did not provide any federal awards to subrecipients during the year ended September 30, 2023.