Title: Basis of Prensentation
Accounting Policies: (1) Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of Methodist Le Bonheur Healthcare and Affiliates (the System) under programs of the federal government for the year ended December 31, 2023. The accompanying Schedule of Expenditures of State of Tennessee Financial Assistance (collectively with the Schedule of Expenditures of Federal Awards, the Schedules) summarizes the expenditures of the System under programs of the state government. The amounts reported as federal and state expenditures were obtained from the Systems general ledger. Because the Schedules present only a selected portion of the operations of the System, they are not intended to and do not present the financial position, results of operations, changes in net assets and cash flows of the System. For purposes of the Schedules, federal awards include all grants, contracts, and similar agreements entered into directly between the System and agencies and departments of the federal government and all subawards to the System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the audit 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). State awards include all state funded financial awards, as defined by the State Comptrollers Office, and is prepared and presented in a manner consistent with the State Audit Manual. (2) Summary of Significant Accounting Policies Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures reported on the Schedule of Expenditures of Federal Awards 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. The System has not elected to utilize a de minimis indirect cost rate of 10% of modified total direct costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of Methodist Le Bonheur Healthcare and Affiliates (the System) under programs of the federal government for the year ended December 31, 2023. The accompanying Schedule of Expenditures of State of Tennessee Financial Assistance (collectively with the Schedule of Expenditures of Federal Awards, the Schedules ) summarizes the expenditures of the System under programs of the state government. The amounts reported as federal and state expenditures were obtained from the Systems general ledger. Because the Schedules present only a selected portion of the operations of the System, they are not intended to and do not present the financial position, results of operations, changes in net assets and cash flows of the System. For purposes of the Schedules, federal awards include all grants, contracts, and similar agreements entered into directly between the System and agencies and departments of the federal government and all subawards to the System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). State awards include all state funded financial awards, as defined by the State Comptrollers Office, and is prepared and presented in a manner consistent with the State Audit Manual.
Title: Summary of Significant Accounting Policies
Accounting Policies: (1) Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards summarizes the expenditures of Methodist Le Bonheur Healthcare and Affiliates (the System) under programs of the federal government for the year ended December 31, 2023. The accompanying Schedule of Expenditures of State of Tennessee Financial Assistance (collectively with the Schedule of Expenditures of Federal Awards, the Schedules) summarizes the expenditures of the System under programs of the state government. The amounts reported as federal and state expenditures were obtained from the Systems general ledger. Because the Schedules present only a selected portion of the operations of the System, they are not intended to and do not present the financial position, results of operations, changes in net assets and cash flows of the System. For purposes of the Schedules, federal awards include all grants, contracts, and similar agreements entered into directly between the System and agencies and departments of the federal government and all subawards to the System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the audit 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). State awards include all state funded financial awards, as defined by the State Comptrollers Office, and is prepared and presented in a manner consistent with the State Audit Manual. (2) Summary of Significant Accounting Policies Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures reported on the Schedule of Expenditures of Federal Awards 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. The System has not elected to utilize a de minimis indirect cost rate of 10% of modified total direct costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported in the Schedules are reported on the accrual basis of accounting. Such expenditures reported in the Schedule of Expenditures of Federal Awards 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. The System has not elected to utilize a de minimis indirect cost rate of 10% of modified total direct costs.