Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Shands Jacksonville HealthCare, Inc. and Subsidiaries (the Company) and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the 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 Schedule presents only a selected portion of the operations of the Company, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Company. The purpose of the Schedule is to present a summary of those activities of the Company for the year ended June 30, 2024, which have been financed by the federal government. For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants and contracts. Direct and indirect costs are charged to awards in accordance with cost principles contained in the Department of Health and Human Services, Office of the Assistant Secretary Comptroller (OASC), OASC-3 Hospital Cost Principles (or CFR Part 45, Part 74, Appendix E) and Uniform Guidance, 2 CFR Part 200, Subpart E Cost Principles. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The Company has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.