Title: Provider Relief Fund
Accounting Policies: Expenditures reported on the Schedule, except for the program expenditures described in the following paragraph, are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, or 45 CFR Par 75 Appendix IX, Principals for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Expenditures reported on the Schedule for certain grants are recognized based on the following: COVID-19 Provider Relief Fund and American Rescue Plan Rural Distribution, federal assistance listing number 93.498, represents the total expenditures and/or lost revenues from the Period 6 report submissions to the PRF Reporting Portal. Period 6 is based on payments received from July 1, 2022 through December 31, 2022, with a period of availability of expenses from January 1, 2020 through December 31, 2023 and/or lost revenues from January 1, 2020 through June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Provider Relief Fund expenditures reported on the Schedule include the following providers and amounts reported for period 6 in the PRF Reporting Portal. See the Notes to the SEFA for chart/table.
Title: Federal Direct Student Loans Program
Accounting Policies: Expenditures reported on the Schedule, except for the program expenditures described in the following paragraph, are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, or 45 CFR Par 75 Appendix IX, Principals for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Expenditures reported on the Schedule for certain grants are recognized based on the following: COVID-19 Provider Relief Fund and American Rescue Plan Rural Distribution, federal assistance listing number 93.498, represents the total expenditures and/or lost revenues from the Period 6 report submissions to the PRF Reporting Portal. Period 6 is based on payments received from July 1, 2022 through December 31, 2022, with a period of availability of expenses from January 1, 2020 through December 31, 2023 and/or lost revenues from January 1, 2020 through June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
With respect to the Federal Direct Student Loans Program, the School is only responsible for the performance of certain administrative duties; therefore, the transactions and balances of loans outstanding related to this program are not included in the System's consolidated financial statements. The Schedule includes the amounts loaned to students during the year ended June 30, 2024. It is not practical to estimate the outstanding balance of loans under this program.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule, except for the program expenditures described in the following paragraph, are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, or 45 CFR Par 75 Appendix IX, Principals for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Expenditures reported on the Schedule for certain grants are recognized based on the following: COVID-19 Provider Relief Fund and American Rescue Plan Rural Distribution, federal assistance listing number 93.498, represents the total expenditures and/or lost revenues from the Period 6 report submissions to the PRF Reporting Portal. Period 6 is based on payments received from July 1, 2022 through December 31, 2022, with a period of availability of expenses from January 1, 2020 through December 31, 2023 and/or lost revenues from January 1, 2020 through June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompany Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activities of Tower Health and its subsidiaries (the System) under programs of the federal government for the year ended June 30, 2024. The School of Health Sciences (the School) provides a program of classroom and clinical preparation for the nursing profession and other allied health professionals. 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). The Schedule presents only a selected portion of the operations of the System, and it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of the System. There were no federall funds passed through to subrecipients for the year ended June 30, 2024.
Title: Indirect Costs
Accounting Policies: Expenditures reported on the Schedule, except for the program expenditures described in the following paragraph, are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, or 45 CFR Par 75 Appendix IX, Principals for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Expenditures reported on the Schedule for certain grants are recognized based on the following: COVID-19 Provider Relief Fund and American Rescue Plan Rural Distribution, federal assistance listing number 93.498, represents the total expenditures and/or lost revenues from the Period 6 report submissions to the PRF Reporting Portal. Period 6 is based on payments received from July 1, 2022 through December 31, 2022, with a period of availability of expenses from January 1, 2020 through December 31, 2023 and/or lost revenues from January 1, 2020 through June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.