Title: 1. BASIS OF PRESENTATION
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
The schedule of expenditures of federal awards includes federal grant activity under federal government programs of Children’s Hospital of Los Angeles (“Hospital”) for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation, of the general-purpose financial statements.
Title: 2. EQUIPMENT EXPENDITURES
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
All capital expenditures are charged in the period in which the expenditure is incurred or as otherwise determined appropriate by and negotiated with the awarding agency.
Title: 3. PASS-THROUGH AWARDS
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
The Hospital receives certain federal awards from pass-through agencies where the amounts are commingled by the pass-through agency with other nonfederal funds and cannot be separately identified. The total amount of pass-through awards is included in the schedule of expenditures of federal awards
Title: 4. SUBRECIPIENTS
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
The Hospital also provided federal awards to subrecipients, of which the amounts are presented in the schedule of expenditures of federal awards.
Title: 5. INDIRECT RATE
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
The Hospital has not elected to use 10% de minimums indirect cost rate.
Title: 6. CREDIT BALANCES
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
Net credit balances in the expenditures column are the result of timing differences from effective dates of awards to when the Hospital receives award notices, delays in receiving no-cost extensions, and supplemental expenditures and do not represent overbillings or overpayments on such awards. As a result of these circumstances, total federal expenditures of $ 86,177,900 is shown net of $ 1,093,243 of credit balances for the year ended June 30, 2023.
Title: 7. PROVIDER RELIEF FUNDS
Accounting Policies: Y
De Minimis Rate Used: N
Rate Explanation: N
The Hospital recognized revenue for reimbursements of expenditures and lost revenues from the US Department of Health and Human Services (HHS) pursuant to the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provider relief fund (PRF) program totaling $0 million and $27.1 million during the years ended June 30, 2023 and 2022, respectively. Based on HHS post-payment notice of reporting requirements, the Hospital submitted, on September 28, 2023 through the PRF reporting portal a total of $0 million of PRF expenditures and $27.1 million of lost revenues for payments received during reporting period 5 (defined by HHS as the period from January 1, 2022, through June 30, 2022), with a deadline to use the funds by June 30, 2023, and a deadline to submit through the reporting portal by September 30, 2023, respectively. No payments were received during the reporting periods 6 or 7. Any payments received subsequent to June 30, 2022, are subject to inclusion in the PRF reporting portal and in the schedule of expenditures of federal awards in periods subsequent to the Hospital’s fiscal year ended June 30, 2023, with the next reporting period 8 defined by HHS as the period from July 1, 2023, through December 31, 2023, with a deadline to use the funds by December 31, 2024, and a deadline to submit through the reporting portal by March 31, 2025.