Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are recognized under the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for the Foundation were based on applicable U.S. Department of Health and Human Services negotiated rates or sponsor-specified (capped) rates. The Foundation did not use the 10 percent de minimis indirect cost rate.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of University Health Systems of Eastern Carolina Foundation, Inc. d/b/a ECU Health Foundation (the Foundation) for the year ended September 30, 2024. The information in the 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). Because the Schedule presents only a selected portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Foundation.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are recognized under the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for the Foundation were based on applicable U.S. Department of Health and Human Services negotiated rates or sponsor-specified (capped) rates. The Foundation did not use the 10 percent de minimis indirect cost rate.
Expenditures reported on the Schedule are recognized under the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rates
Accounting Policies: Expenditures reported on the Schedule are recognized under the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates for the Foundation were based on applicable U.S. Department of Health and Human Services negotiated rates or sponsor-specified (capped) rates. The Foundation did not use the 10 percent de minimis indirect cost rate.
Indirect cost rates for the Foundation were based on applicable U.S. Department of Health and Human Services negotiated rates or sponsor-specified (capped) rates. The Foundation did not use the 10 percent de minimis indirect cost rate.