Notes to SEFA
Title: Note 1- Basis of Presentation
Accounting Policies: Lost revenues reported in the SEFA are reported on accrual basis of accounting in accordance with HRSA terms and conditions for PRF funding. Lost revenues are reported based on the HRSA Option 1, reporting of lost revenues by comparing actual revenues by quarter during the period of availability to actual revenues for similar quarters during 2019 prior to the COVID-19 Pandemic.
De Minimis Rate Used: N
Rate Explanation: Note 3- Indirect Cost Rate. University Physician Group has elected not to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of University Physician Group under programs of the federal governement for the year ended Septemebr 30, 2023. The information in this SEFA 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"). All federal awards received directly and indirectly from ferderal agencies are included in this Schedule. Because the schedule presents only a selected portion of the operations of University Physician Group, it is not intended to and does not represent the financial position, changes in net position, or cash flows of University Physician Group. As outlined in the May 2024 OMB Compliance Supplement, the amounts reported in the accompanying SEFA related to the Provider Releif Fund (PRF), Assistance Listing No. 93.498, are reported based upon the PRF reporting portal submission guidlines established by the Health Resource and Service Administration (HRSA). Seven separate reporting periods were established by HRSA based on the dates of receipt of PRF payments. Each reporting period has a specific period of availability which begins on January 1, 2020 and extends through specific deadlines. The accompanying SEFA includes those lost revenues that were reported in the HRSA PRF portal for Period 4. Of that amount, $1,287,751 in PRF payments was recognized by the Organization in their statement of activities as other non-operating revenue during the year ended September 30, 2023.
Title: Note 2-Summary of Significant Accounting Policies
Accounting Policies: Lost revenues reported in the SEFA are reported on accrual basis of accounting in accordance with HRSA terms and conditions for PRF funding. Lost revenues are reported based on the HRSA Option 1, reporting of lost revenues by comparing actual revenues by quarter during the period of availability to actual revenues for similar quarters during 2019 prior to the COVID-19 Pandemic.
De Minimis Rate Used: N
Rate Explanation: Note 3- Indirect Cost Rate. University Physician Group has elected not to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
Lost revenues reported in the SEFA are reported on accrual basis of accounting in accordance with HRSA terms and conditions for PRF funding. Lost revenues are reported based on the HRSA Option 1, reporting of lost revenues by comparing actual revenues by quarter during the period of availability to actual revenues for similar quarters during 2019 prior to the COVID-19 Pandemic.
Title: Note 3-Indirect Cost Rate
Accounting Policies: Lost revenues reported in the SEFA are reported on accrual basis of accounting in accordance with HRSA terms and conditions for PRF funding. Lost revenues are reported based on the HRSA Option 1, reporting of lost revenues by comparing actual revenues by quarter during the period of availability to actual revenues for similar quarters during 2019 prior to the COVID-19 Pandemic.
De Minimis Rate Used: N
Rate Explanation: Note 3- Indirect Cost Rate. University Physician Group has elected not to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
University Physician Group has elected not to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.