Title: COVID-19 – Provider Relief Fund
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the federal grant expenditures of The University of Vermont Health Network Inc. and its subsidiaries (the Network) for the year ended September 30, 2024. Federal program expenditures included in the accompanying Schedule are 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). In accordance with applicable requirements, certain programs may be presented in a fiscal period based on the program-specific guidance (see Notes 2 and 3). Therefore, some amounts presented in the accompanying Schedule may differ from amounts presented in or used in the preparation of the Network’s consolidated financial statements. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, loan and loan guarantees, or other non-cash assistance.
Direct and indirect costs are charged to awards in accordance with cost principles contained in the United States Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for awards subject to the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: The Network has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Effective May 1, 2024, the Network has negotiated an indirect rate of 26% on grants applied for after that date.
The accompanying Schedule includes grant activity related to the Department of Health and Human Services (HHS) COVID-19 Provider Relief Fund (PRF) and American Rescue Plan (ARP) Distribution under Assistance Listing Number 93.498. In accordance with the guidance in the 2024 U.S. Office of Management and Budget Compliance Supplement, the Schedule includes all Period 6 and Period 7 funds received between July 1, 2022 and June 30, 2023 and expended by June 30, 2024, as reported to the Health Resources and Services Administration (HRSA) via the PRF Reporting Portal. The amounts reported in the accompanying Schedule reconcile to the PRF information previously reported to the HRSA for PRF Reporting Periods 6 and 7 as follows:
Reporting Period 6: Activity from the period January 1, 2020 through December 31, 2023. [See the Notes to the SEFA for chart/table]
Reporting Period 7: Activity from the period January 1, 2020 through June 30, 2024
No applicable PRF receipts during this Reporting Period.
The expenses attributable to Coronavirus Disease 2019 (COVID-19) and lost revenues incurred by the Network during the period of availability for PRF Reporting Periods 6 and 7 are in excess of the general, targeted and infection control distributions received in PRF Reporting Periods 1 through 5 (which addressed payments received during April 10, 2020 to June 30, 2022, and previously reported on the Schedule of Expenditures of Federal Awards for the years ended September 30, 2023, 2022 and 2021) and distributions received from July 1, 2021 through June 30, 2023 and, therefore, the amounts presented in the table above and on the accompanying Schedule are limited to the amount of such distributions.
Title: Federal Emergency Management Agency: Disaster Grants
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the federal grant expenditures of The University of Vermont Health Network Inc. and its subsidiaries (the Network) for the year ended September 30, 2024. Federal program expenditures included in the accompanying Schedule are 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). In accordance with applicable requirements, certain programs may be presented in a fiscal period based on the program-specific guidance (see Notes 2 and 3). Therefore, some amounts presented in the accompanying Schedule may differ from amounts presented in or used in the preparation of the Network’s consolidated financial statements. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, loan and loan guarantees, or other non-cash assistance.
Direct and indirect costs are charged to awards in accordance with cost principles contained in the United States Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for awards subject to the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: The Network has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Effective May 1, 2024, the Network has negotiated an indirect rate of 26% on grants applied for after that date.
The Network incurred certain expenditures related to the COVID-19 pandemic which are eligible for reimbursement from the Federal Emergency Management Agency (FEMA) Disaster Grants – Public Assistance (Presidentially Declared Disasters) program (Assistance Listing Number 97.036). The Network has applied for and received approval from FEMA in fiscal year 2024 for reimbursement of qualifying expenses totaling approximately $19,300,000, all of which are expenditures that were incurred in previous periods. The total amount approved in fiscal year 2024 has been included in the accompanying Schedule in accordance with the guidance specific to Assistance Listing Number 97.036.