Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of University Hospitals Health System, Inc. and its subsidiaries (the System) for the year ended December 31, 2023. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the accompanying schedule.
For the year ended December 31, 2023, the System had no expenditures in the form of non-cash assistance and had no federally provided insurance in effect. Expenditures for federal programs are recognized on the accrual basis of accounting.
The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Awards have been classified into major and nonmajor programs in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).The System's major programs are identified in the accompanying Schedule of Findings and Questioned Costs.
De Minimis Rate Used: N
Rate Explanation: The audittee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. Funds received under various government grant programs are recognized as support over the grant period as expenditures are incurred.
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of University Hospitals Health System, Inc. and its subsidiaries (the System) for the year ended December 31, 2023. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the accompanying schedule.
For the year ended December 31, 2023, the System had no expenditures in the form of non-cash assistance and had no federally provided insurance in effect. Expenditures for federal programs are recognized on the accrual basis of accounting.
The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Awards have been classified into major and nonmajor programs in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).The System's major programs are identified in the accompanying Schedule of Findings and Questioned Costs.
De Minimis Rate Used: N
Rate Explanation: The audittee did not use the de minimis cost rate.
All federal financial assistance receipts are reported as other revenue in the System’s consolidated financial statements.
Title: Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of University Hospitals Health System, Inc. and its subsidiaries (the System) for the year ended December 31, 2023. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the accompanying schedule.
For the year ended December 31, 2023, the System had no expenditures in the form of non-cash assistance and had no federally provided insurance in effect. Expenditures for federal programs are recognized on the accrual basis of accounting.
The System did not use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Awards have been classified into major and nonmajor programs in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).The System's major programs are identified in the accompanying Schedule of Findings and Questioned Costs.
De Minimis Rate Used: N
Rate Explanation: The audittee did not use the de minimis cost rate.
The System did not recover indirect costs under agreements with any US departments and agencies.