Title: Basis of Accounting and Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") summarizes the federal grant expenditures of University of Alabama Health Services Foundation, P.C. (the "Foundation") under programs of the federal government for the year ended September 30, 2023. The information presented in the Schedule is presented on the accrual basis of accounting and in accordance with the 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 this Schedule differ from amounts presented in or used in preparation of the financial statements. As the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, results of operations and changes in net assets, and cash flows of the Foundation. The Foundation applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly or indirectly between the Foundation and agencies and departments of the federal government and all subawards to the Foundation by non-federal organizations pursuant to federal grants, contracts, and similar agreements
De Minimis Rate Used: N
Rate Explanation: The Foundation did not charge indirect costs to its federal award and thus the 10% de minimus indirect cost rate, as described in Section 200.414 of the Uniform Guidance, is not applicable.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") summarizes the federal grant expenditures of University of Alabama Health Services Foundation, P.C. (the "Foundation") under programs of the federal government for the year ended September 30, 2023. The information presented in the Schedule is presented on the accrual basis of accounting and in accordance with the 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 this Schedule differ from amounts presented in or used in preparation of the financial statements. As the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, results of operations and changes in net assets, and cash flows of the Foundation. The Foundation applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly or indirectly between the Foundation and agencies and departments of the federal government and all subawards to the Foundation by non-federal organizations pursuant to federal grants, contracts, and similar agreements.
Title: COVID-19 Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") summarizes the federal grant expenditures of University of Alabama Health Services Foundation, P.C. (the "Foundation") under programs of the federal government for the year ended September 30, 2023. The information presented in the Schedule is presented on the accrual basis of accounting and in accordance with the 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 this Schedule differ from amounts presented in or used in preparation of the financial statements. As the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, results of operations and changes in net assets, and cash flows of the Foundation. The Foundation applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly or indirectly between the Foundation and agencies and departments of the federal government and all subawards to the Foundation by non-federal organizations pursuant to federal grants, contracts, and similar agreements
De Minimis Rate Used: N
Rate Explanation: The Foundation did not charge indirect costs to its federal award and thus the 10% de minimus indirect cost rate, as described in Section 200.414 of the Uniform Guidance, is not applicable.
The Foundation was the recipient of funding under Assistance Listing Number 93.498, COVID-19 Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution (“PRF”), and as required based on guidance in the 2023 OMB Compliance Supplement, the Schedule includes all ARP and Period 4 funds received between July 1, 2021 and December 31, 2021 and expended by December 31, 2022 as reported to the Department of Health and Human Services via the PRF Reporting Portal. The Schedule thus includes $2,630,118 in lost revenue. Given the timing covered by ARP and Period 4 funds, the corresponding revenue associated with the award was reflected in the Foundation's fiscal year 2022 financial statements. Additionally, lost revenue does not represent an expenditure in the Foundation's financial statements and thus is a reconciling item between the federal expenses in the Foundation's financial statements and the amount included on the Schedule.