Notes to SEFA
Title: GENERAL
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The System does not allocate indirect costs to federal programs, and as such, does not elect to apply the 10% de minimis rate permitted by the Uniform Guidance.
The accompanying Consolidated Schedule of Expenditures of Federal Awards (the Schedule) has been prepared in accordance with accounting principles generally accepted in the United States of America. Amounts included in the Schedule are actual expenditures for the year ended December 31, 2023. The accompanying Schedule presents the activity of all federal award programs of Finger Lakes Regional Health System, Inc. d/b/a Finger Lakes Health (the System). The information in this 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the System’s operations, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System.
Title: BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The System does not allocate indirect costs to federal programs, and as such, does not elect to apply the 10% de minimis rate permitted by the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures 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.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The System does not allocate indirect costs to federal programs, and as such, does not elect to apply the 10% de minimis rate permitted by the Uniform Guidance.
The System does not allocate indirect costs to federal programs, and as such, does not elect to apply the 10% de minimis rate permitted by the Uniform Guidance.