Notes to SEFA
Title: Note 1
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Health System has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Additional note: All additional notes included in the reporting package must be entered in this section and will be automatically numbered sequentially by the IDES system as they are entered.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of SoutheastHEALTH System, Inc. (the “Health System”), under programs of the federal government for the period from January 1, 2023 to December 19, 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 the Health System, it is not intended to and does not present the financial position, results of operations, changes in net assets, or cash flows of the Health System.
Title: Note 2
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Health System has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Additional note: All additional notes included in the reporting package must be entered in this section and will be automatically numbered sequentially by the IDES system as they are entered.
Federal Direct Student Loan balances are not included in the Health System’s consolidated financial statements. Loans disbursed during the year are included in federal expenditures presented in the Schedule.
Title: Note 3
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Health System has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Additional note: All additional notes included in the reporting package must be entered in this section and will be automatically numbered sequentially by the IDES system as they are entered.
Personal Protective Equipment (PPE) (Unaudited) – SoutheastHEALTH System, Inc. did not receive donated PPE from a federal source during the year ended December 19, 2023.