Title: 1. Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Ochsner Clinic Foundation and Subsidiaries 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 Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of Ochsner Clinic Foundation and Subsidiaries. For purposes of the SEFA, federal awards include any assistance provided by a federal agency directly, or indirectly, in the form of grants, contracts, coopertive agreements, loan and loan guarantees, or other non-cash assistance. 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: Ochsner Clinic Foundation and Subsidiaries utilizes the Department of Health and Human Services 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 Ochsner Clinic Foundation and Subsidiaries 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 Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of Ochsner Clinic Foundation and Subsidiaries. For purposes of the SEFA, federal awards include any assistance provided by a federal agency, directly, or indirectly, in the form of grants, contracts, cooperative agreements, loan and loan guarantees, or other non-cash assistance. 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 Ochsner Clinic Foundation and Subsidiaries 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 Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of Ochsner Clinic Foundation and Subsidiaries. For purposes of the SEFA, federal awards include any assistance provided by a federal agency directly, or indirectly, in the form of grants, contracts, coopertive agreements, loan and loan guarantees, or other non-cash assistance. 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: Ochsner Clinic Foundation and Subsidiaries utilizes the Department of Health and Human Services negotiated indirect cost rate or the rate in the grant agreement.
Ochsner Clinic Foundation and Subsidiaries does not use the 10 percent de minimis indirect cost rate provided for in the Uniform Guidance.
Title: 3. Provider Relief Fund
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Ochsner Clinic Foundation and Subsidiaries 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 Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of Ochsner Clinic Foundation and Subsidiaries. For purposes of the SEFA, federal awards include any assistance provided by a federal agency directly, or indirectly, in the form of grants, contracts, coopertive agreements, loan and loan guarantees, or other non-cash assistance. 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: Ochsner Clinic Foundation and Subsidiaries utilizes the Department of Health and Human Services 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 (PRF Funds), is for the year ended December 31, 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 $26,540,976 of PRF Funds received from HHS between January 1, 2022 through December 31, 2022. In accordance with guidance from HHS, these amounts are presented as Period 5 and Period 6. Such amounts were recognized as other operating revenue in Ochsner Clinic Foundation and Subsidiaries’ consolidated financial statements in the year ended December 31, 2022.
Title: 4. Disaster Grants – Public Assistance (Presidentially Declared Disasters)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Ochsner Clinic Foundation and Subsidiaries 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 Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of Ochsner Clinic Foundation and Subsidiaries. For purposes of the SEFA, federal awards include any assistance provided by a federal agency directly, or indirectly, in the form of grants, contracts, coopertive agreements, loan and loan guarantees, or other non-cash assistance. 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: Ochsner Clinic Foundation and Subsidiaries utilizes the Department of Health and Human Services negotiated indirect cost rate or the rate in the grant agreement.
In fiscal year 2023, Ochsner Clinic Foundation and Subsidiaries received approval from the State of Louisiana Governor’s Office of Homeland Security and Emergency Preparedness for 20 projects related to the reimbursement of eligible expenditures of $6,123,837 incurred in previous fiscal years. These previous years’ expenditures are included in the SEFA in the current year in accordance with guidance provided by the U.S. Department of Homeland Security.