Title: BASIS OF PRESENTATION
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: THS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Triad Health Systems, Inc. (“THS”) under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with 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 operations of THS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of THS.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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: THS has elected not to use the 10% de minimis indirect cost rate as allowed under 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: PROVIDER RELIEF FUNDS
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: THS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule for the Provider Relief Fund (“PRF”) under ALN 93.498 are based on the THS’s December 31, 2023 report to the PRF Reporting Portal. Under terms and conditions of the Provider Relief Funds established by the Coronavirus Aids, Relief, and Economic Security (“CARES”) Act, THS is required to report COVID-19 related expenses and lost revenue to the U.S. Department of Health and Human Services (“HHS”). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenue within certain reporting timetables based on the date that funds were received. For the years ended December 31, 2023 and 2022, THS recognized $0 and $827,491, respectively, as provider relief fund revenue in the statements of operations and changes in net assets as the terms and conditions of the PRF grant were satisfied by THS. The 2023 Schedule includes PRF of $827,491 which was received by THS from January 1, 2022 to June 30, 2022, the dates designated by HHS for its fifth PRF reporting period.
Title: DONATED PERSONAL PROTECTIVE EQUIPMENT
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: THS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During 2023, THS did not receive material donated personal protective equipment from federal sources.
Title: INDIRECT COST RATE
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: THS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
THS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.