Title: NOTE 1 BASIS OF ACCOUNTING AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity of BMHCC under programs of the federal government for the year ended September 30, 2024. The information in the 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 (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of BMHCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BMHCC.
The SEFA does not present the activity for BMHCC’s affiliate, Baptist College of Health Sciences, Inc. dba Baptist Health Sciences University (the “University”), which expended $12,622,210 in federal awards during the year ended September 30, 2024. A separate audit of compliance over the University’s major programs will be performed in accordance with the requirements described in the OMB Compliance Supplement.
Federal direct and indirect programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, pass-through entity, and grant number are presented for all individual awards, where applicable. The SEFA has been prepared in accordance with the accrual basis of accounting and with accounting principles generally accepted in the United States of America and is consistent with the preparation of BMHCC’s combined financial statements. Amounts reflected in the SEFA include only expenditures of federal awards. 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.
An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: Baptist has an approved indirect cost rate for the National Cancer Institute Community Oncology, Research Program for Cancer Treatment Research and the National Cancer Institute Community for Cancer Cause and Prevention Research. Grant agreements under the Rural Health Care Services Outreach, Rural Health Network Development and Small Health Care Provider Quality Improvement program specify the indirect rate allowed. BMHCC uses the 10% de minimis cost rate allowed under the Uniform Guidance for all other awards where an indirect cost rate has been specified but not negotiated.
The schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity of BMHCC under programs of the federal government for the year ended September 30, 2024. The information in the 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 (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of BMHCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BMHCC.
The SEFA does not present the activity for BMHCC’s affiliate, Baptist College of Health Sciences, Inc. dba Baptist Health Sciences University (the “University”), which expended $12,622,210 in federal awards during the year ended September 30, 2024. A separate audit of compliance over the University’s major programs will be performed in accordance with the requirements described in the OMB Compliance Supplement.
Federal direct and indirect programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, pass-through entity, and grant number are presented for all individual awards, where applicable. The SEFA has been prepared in accordance with the accrual basis of accounting and with accounting principles generally accepted in the United States of America and is consistent with the preparation of BMHCC’s combined financial statements. Amounts reflected in the SEFA include only expenditures of federal awards. 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.
An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
Title: Note2- Indirect Cost
Accounting Policies: The schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity of BMHCC under programs of the federal government for the year ended September 30, 2024. The information in the 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 (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of BMHCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BMHCC.
The SEFA does not present the activity for BMHCC’s affiliate, Baptist College of Health Sciences, Inc. dba Baptist Health Sciences University (the “University”), which expended $12,622,210 in federal awards during the year ended September 30, 2024. A separate audit of compliance over the University’s major programs will be performed in accordance with the requirements described in the OMB Compliance Supplement.
Federal direct and indirect programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, pass-through entity, and grant number are presented for all individual awards, where applicable. The SEFA has been prepared in accordance with the accrual basis of accounting and with accounting principles generally accepted in the United States of America and is consistent with the preparation of BMHCC’s combined financial statements. Amounts reflected in the SEFA include only expenditures of federal awards. 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.
An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: Baptist has an approved indirect cost rate for the National Cancer Institute Community Oncology, Research Program for Cancer Treatment Research and the National Cancer Institute Community for Cancer Cause and Prevention Research. Grant agreements under the Rural Health Care Services Outreach, Rural Health Network Development and Small Health Care Provider Quality Improvement program specify the indirect rate allowed. BMHCC uses the 10% de minimis cost rate allowed under the Uniform Guidance for all other awards where an indirect cost rate has been specified but not negotiated.
Baptist has an approved indirect cost rate for the National Cancer Institute Community Oncology
Research Program for Cancer Treatment Research and the National Cancer Institute Community for
Cancer Cause and Prevention Research. Grant agreements under the Rural Health Care Services
Outreach, Rural Health Network Development and Small Health Care Provider Quality Improvement
program specify the indirect rate allowed. BMHCC uses the 10% de minimis cost rate allowed under the
Uniform Guidance for all other awards where an indirect cost rate has been specified but not
negotiated
Title: Note 3- Subrecipient
Accounting Policies: The schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity of BMHCC under programs of the federal government for the year ended September 30, 2024. The information in the 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 (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of BMHCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BMHCC.
The SEFA does not present the activity for BMHCC’s affiliate, Baptist College of Health Sciences, Inc. dba Baptist Health Sciences University (the “University”), which expended $12,622,210 in federal awards during the year ended September 30, 2024. A separate audit of compliance over the University’s major programs will be performed in accordance with the requirements described in the OMB Compliance Supplement.
Federal direct and indirect programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, pass-through entity, and grant number are presented for all individual awards, where applicable. The SEFA has been prepared in accordance with the accrual basis of accounting and with accounting principles generally accepted in the United States of America and is consistent with the preparation of BMHCC’s combined financial statements. Amounts reflected in the SEFA include only expenditures of federal awards. 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.
An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: Baptist has an approved indirect cost rate for the National Cancer Institute Community Oncology, Research Program for Cancer Treatment Research and the National Cancer Institute Community for Cancer Cause and Prevention Research. Grant agreements under the Rural Health Care Services Outreach, Rural Health Network Development and Small Health Care Provider Quality Improvement program specify the indirect rate allowed. BMHCC uses the 10% de minimis cost rate allowed under the Uniform Guidance for all other awards where an indirect cost rate has been specified but not negotiated.
Uniform Guidance defines a subrecipient as a nonfederal entity that receives a subaward from a pass_x0002_through entity to carry out part of a federal program but does not include an individual who is a beneficiary of such program or payments to a contractor. A contractor is an entity that receives a contract by which a nonfederal entity purchases property or services needed to carry out the project or program under a federal award. A nonfederal entity may concurrently receive federal funds as a recipient, subrecipient, and contractor, depending on the substance of its agreements with federal awarding agencies and pass-through entities. Therefore, BMHCC must make case-by-case determinations whether each agreement it makes for the disbursement of federal program funds casts the party receiving the funds as a subrecipient or a contractor based on the Uniform Guidance definitions and management’s judgement. The total amount identified as provided to subrecipients during the year ended September 30, 2024, was $186,954
Title: Note-4 - Relationship to Federal Financial Reports
Accounting Policies: The schedule of expenditures of federal awards (the “SEFA”) includes the federal award activity of BMHCC under programs of the federal government for the year ended September 30, 2024. The information in the 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 (“Uniform Guidance”). Because the SEFA presents only a selected portion of the operations of BMHCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BMHCC.
The SEFA does not present the activity for BMHCC’s affiliate, Baptist College of Health Sciences, Inc. dba Baptist Health Sciences University (the “University”), which expended $12,622,210 in federal awards during the year ended September 30, 2024. A separate audit of compliance over the University’s major programs will be performed in accordance with the requirements described in the OMB Compliance Supplement.
Federal direct and indirect programs are presented by federal department and by individual federal awards. Assistance Listing Number (ALN) for federal programs, pass-through entity, and grant number are presented for all individual awards, where applicable. The SEFA has been prepared in accordance with the accrual basis of accounting and with accounting principles generally accepted in the United States of America and is consistent with the preparation of BMHCC’s combined financial statements. Amounts reflected in the SEFA include only expenditures of federal awards. 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.
An award is considered expended when the activity related to the award occurs. The activity generally pertains to events requiring compliance with laws, regulations, and the provisions of contract and grant agreements.
De Minimis Rate Used: N
Rate Explanation: Baptist has an approved indirect cost rate for the National Cancer Institute Community Oncology, Research Program for Cancer Treatment Research and the National Cancer Institute Community for Cancer Cause and Prevention Research. Grant agreements under the Rural Health Care Services Outreach, Rural Health Network Development and Small Health Care Provider Quality Improvement program specify the indirect rate allowed. BMHCC uses the 10% de minimis cost rate allowed under the Uniform Guidance for all other awards where an indirect cost rate has been specified but not negotiated.
The regulations and guidelines governing the preparation of federal financial reports vary by federal
agency and among programs administered by the same agency. Accordingly, the amounts reported in
the federal financial reports may not necessarily agree with the amounts reported in the accompanying
SEFA, which is prepared as explained in the Notes above. Certain costs reflected in the schedule of the
federal and state awards in the current year may represent costs incurred in prior years that have been
approved for reimbursement by the granting agency and recorded in the current year financial
statements.