Title: 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
Title: 2. SUMMARY OF FACILITIES AND ADMINISTRATIVE COST RECOVERIES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
Title: 3.FEDERAL STUDENT LOAN PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
Loans outstanding to students under federal programs at September 30, 2023, are summarized as follows:
Nursing Student Loan Program: $163,382
Federal Family Education loans are administered by outside financial institutions, and balances and transactions relating to these programs are not included in the System’s consolidated financial statements.
Title: 4.AUDITED ENTITIES FOR SINGLE AUDIT REPORTING
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
During the year ended September 30, 2023, all entities under the System who received federal funding from the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution with periods of availability from July 1, 2021, through June 30, 2022 are summarized, by tax identification number (TIN), as follows:
27-3902914 Circle Health Physicians, Inc.
04-2103812 Circle Home, Inc.
04-3140938 Hallmark Health Medical Associates
04-2437064 Hallmark Health Visting Nurse Association, Inc.
04-2435675 Home Health VNA, Inc.
04-2767880 MelroseWakefield Healthcare, Inc.
04-3024278 Merrimack Valley Hospice, Inc
04-3148395 Pratt Anesthesiology Associates
04-2743894 Pratt Medical Group Inc
04-3148384 Pratt Neurology Associates
04-3096445 Pratt Neurosurgical Associates
04-3148385 Pratt OB GYN Associates
04-3148392 Pratt Opthalmology Associates
20-5129051 Pratt Othopaedic Associates
04-3148381 Pratt Otolaryngology
04-3148393 Pratt Pathology Associates
04-3148394 Pratt Pediatric Associates
04-3148389 Pratt Radiation Oncology Associates
04-3148388 Pratt Radiology Associates
04-3148378 Pratt Rehabiliation Medicine
04-3148376 Pratt Surgical Associates
04-3148379 Pratt Urology Associates
04-2103590 The Lowell General Hospital
04-3400617 Tufts Medical Center, Inc.
Title: 5. DONATED MEDICAL EQUIPMENT (UNAUDITED)
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal financial assistance and federal cost-reimbursement contracts of Tufts Medicine, Inc. and affiliates (the “System”).
Operations related to the System’s federal grant programs are included in the scope of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The federal oversight agency for the System is the Department of Health and Human Services (DHHS).
Expenditures related to federal grant funds are recorded on the accrual basis of accounting.
Program Clusters—For the year ended September 30, 2023, the following program clusters were identified:
• Research and Development
• Student Financial Assistance
Major Programs—Major programs are identified in the summary of auditor’s results section of the schedule of findings and questioned costs.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the 10% indirect cost rate allowed under the Uniform Guidance, and instead uses the modified total direct cost basis to determine the facilities and administrative rate. The rates used during 2023 were based on approved rates as received from DHHS.
During the year ended September 30, 2023, the System did not receive any donated medical equipment from a federal awarding agency.