Title: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: 2. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying SEFA for 2024 includes the federal grant activity of the System and is presented on the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Uniform Guidance. The basic consolidated financial statement classifications may include other financial activity for reporting purposes. Therefore, some of the amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Title: 3. SUB-RECIPIENT PASS THROUGH
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The System did not pass-through federal awards to sub-recipients during 2024.