Title: BASIS OF PRESENTATION
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of St. Jude Children’s Research Hospital, Inc. and its wholly owned subsidiaries
Title: BASIS OF PRESENTATION
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
(collectively, the “Hospital”) under programs of the federal government for the year ended June 30, 2024, in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements and Audit Requirements for Federal Awards (the “Uniform Guidance”), and Title 45 US Code of Federal Regulations Part 75, Appendix IX, Cost Principles for Hospitals. Because the Schedule presents only a selected portion of the operations of the Hospital, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Hospital. Federal direct programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, and pass-through entity are presented for all individual awards, where applicable.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements. The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Title: FEDERAL LOANS
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The Hospital has no federal loans.
Title: SUBRECIPIENTS
Accounting Policies: For purposes of the Schedule, expenditures of federal award programs are recognized on the accrual basis of accounting and prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These expenditures are recognized following the cost principles contained in Title 45 US Code of Federal Regulations Part 75, Appendix IX, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: The Hospital has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Uniform Guidance defines a subrecipient as a nonfederal entity that receives a subaward from a passthrough entity to carry out part of a federal program but does not include an individual who is a beneficiary of such program or payments to a contractor. A contractor is an entity that receives a contract by which a nonfederal entity purchases property or services needed to carry out the project or program under a federal award. A nonfederal entity may concurrently receive federal funds as a recipient, subrecipient, and contractor, depending on the substance of its agreements with federal awarding agencies and pass-through entities. Therefore, the Hospital must make case-by-case determinations whether each agreement it makes for the disbursement of federal program funds casts the party receiving the funds as a subrecipient or a contractor based on the Uniform Guidance definitions and management’s judgement.