Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following 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: The Corporation has elected to not exercise its option to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Erie County Medical Center Corporation (the Corporation) under programs of the federal government for the year ended December 31, 2023. The information on 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). For purposes of the Schedule, federal awards include all federal assistance entered into directly between the Corporation and the federal government and sub-awards from nonfederal organizations made under federally sponsored agreements. The Schedule does not include payments received under Medicare and Medicaid reimbursement programs. Because the Schedule presents only a selected portion of the activities of the Corporation, it is not intended to, and does not, present the financial position, changes in net position and cash flows of the Corporation.
Title: Other Federal Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following 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: The Corporation has elected to not exercise its option to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no federal awards expended for noncash assistance, insurance, or any loans, loan guarantees, or interest subsidies outstanding at December 31, 2023.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following 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: The Corporation has elected to not exercise its option to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Corporation did not provide federal awards to any subrecipients during the year ended December 31, 2023.
Title: Provider Relief Fund
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following 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: The Corporation has elected to not exercise its option to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Under the terms and conditions of the Provider Relief Funds and American Rescue Plan (ARP) Rural Distribution program (PRF) (ALN 93.498), the Corporation is required to report COVID-19 related expense and lost revenues to the U.S. Department of Health and Human Services (HHS). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenues in certain reporting periods based on when the funds were received. The December 31, 2023, Schedule includes PRF expenditures of $8,394,858. The Corporation received PRF distributions of $8,394,858 from January 1, 2022 to December 31, 2022 and recognized as revenue of $8,394,858 in its December 31, 2022 financial statements, as the terms and conditions of the PRF grant were satisfied. HHS requires the $8,394,858 be reported on the December 31, 2023, Schedule.