Title: 1
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of Jamaica Hospital Nursing Home Co., Inc. (the Nursing Home). The information in the 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 (the Uniform Guidance). The purpose of the Schedule is to present a summary of those activities of the Nursing Home for the year ended December 31, 2022 which have been financed by the federal government. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of loans or grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Where available, passthrough entity identifying numbers are included in the Schedule. Because the Schedule presents only a selected portion of the activities of the Nursing Home, it is not intended to and does not present either the financial position or the revenues, expenditures and other changes in net deficit of the Nursing Home. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Nursing Homes financial statements. Expenditures for direct costs within the Schedule are recognized using the accrual method of accounting and in accordance with The Department of Health and Human Services, U.S. Office of the Assistant Secretary Comptroller (the OASC) OASC3, A Guide for Hospitals. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The Nursing Home applies the indirect cost rate approved by the granting agency at the time of the award rather than the 10% de minimis indirect cost rate as described in Section 200.414 of the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Refer to Footnote
Basis of Presentation and Significant Accounting Principles
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal grant activity of Jamaica Hospital Nursing Home Co., Inc. (the “Nursing Home”). The information in the 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 (the “Uniform Guidance”). The purpose of the Schedule is to present a summary of those activities of the Nursing Home for the year ended December 31, 2023 which have been financed by the federal government. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of loans or grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Where available, pass–through entity identifying numbers are included in the Schedule. Because the Schedule presents only a selected portion of the activities of the Nursing Home, it is not intended to and does not present either the financial position or the revenues, expenditures and other changes in net deficit of the Nursing Home. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Nursing Home’s financial statements.
Expenditures for direct costs within the Schedule are recognized using the accrual method of accounting and in accordance with The Department of Health and Human Services, U.S. Office of the Assistant Secretary Comptroller (the “OASC”) OASC–3, A Guide for Hospitals. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
The Nursing Home applies the indirect cost rate approved by the granting agency at the time of the award rather than the 10% de minimis indirect cost rate as described in Section 200.414 of the Uniform Guidance.
Title: 2
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal grant activity of Jamaica Hospital Nursing Home Co., Inc. (the Nursing Home). The information in the 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 (the Uniform Guidance). The purpose of the Schedule is to present a summary of those activities of the Nursing Home for the year ended December 31, 2022 which have been financed by the federal government. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of loans or grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Where available, passthrough entity identifying numbers are included in the Schedule. Because the Schedule presents only a selected portion of the activities of the Nursing Home, it is not intended to and does not present either the financial position or the revenues, expenditures and other changes in net deficit of the Nursing Home. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the Nursing Homes financial statements. Expenditures for direct costs within the Schedule are recognized using the accrual method of accounting and in accordance with The Department of Health and Human Services, U.S. Office of the Assistant Secretary Comptroller (the OASC) OASC3, A Guide for Hospitals. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The Nursing Home applies the indirect cost rate approved by the granting agency at the time of the award rather than the 10% de minimis indirect cost rate as described in Section 200.414 of the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Refer to Footnote
2. Loans Outstanding Loans outstanding at the beginning of the year and loans made during the year are included in the Schedule. The Nursing Home’s loan balance outstanding at December 31, 2023 was $30,285,003. Refer to Note 7 of the accompanying financial statements for more information.