Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The
Queen’s Health Systems and its subsidiaries (QHS) and is presented on the accrual basis of accounting.
The information in this schedule 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 (Uniform Guidance). Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in preparation of, the basic consolidated financial
statements.
De Minimis Rate Used: N
Rate Explanation: For the Research and Development Cluster, QHS did not elect to use the 10% de minimis indirect cost rate
as discussed in the Uniform Guidance Section 200.414 as QHS has a negotiated rate with the United
States Department of Health and Human Services for the year ended June 30, 2024.