Title: 1. BASIS OF PRESENTATION
Accounting Policies: (1) Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of certain subsidiaries of Temple University Health System, Inc. (the Health System) (a wholly owned subsidiary of Temple University of The Commonwealth System of Higher Education) under programs of the federal government for the year ended June 30, 2024. The Schedule includes the expenditures of Institute for Cancer Research, doing business as the Research Institute of Fox Chase Cancer Center (a wholly owned subsidiary of American Oncologic Hospital), Temple Center for Population Health, LLC, which is a wholly owned subsidiary of Temple University Health System, Inc., Temple University Hospital, Inc., and Temple Faculty Practice Plan, Inc. Because the Schedule presents only a selected portion of the operations of the Health System, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of the Health System. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Health System and agencies or departments of the federal government and all sub awards to the Health System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
(2) Basis of Accounting: The Schedules is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
(3) Consolidated Financial Statements: The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Health System. All significant intercompany transactions and balances have been eliminated in consolidation.
De Minimis Rate Used: N
Rate Explanation: The Health System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of certain subsidiaries of Temple University Health System, Inc. (the “Health System”) (a wholly owned subsidiary of Temple University—of The Commonwealth System of Higher Education) under programs of the federal government for the year ended June 30, 2024. The Schedule includes the expenditures of Institute for Cancer Research, doing business as the Research Institute of Fox Chase Cancer Center (a wholly owned subsidiary of American Oncologic Hospital), Temple Center for Population Health, LLC, which is a wholly owned subsidiary of Temple University Health System, Inc., Temple University Hospital, Inc., and Temple Faculty Practice Plan, Inc.
Because the Schedule presents only a selected portion of the operations of the Health System, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of the Health System.
For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Health System and agencies or departments of the federal government and all subawards to the Health System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
BASIS OF ACCOUNTING:
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS — The Schedule is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
CONSOLIDATED FINANCIAL STATEMENTS — The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Health System. All significant intercompany transactions and balances have been eliminated in consolidation.
Title: INDIRECT COST RATE
Accounting Policies: (1) Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of certain subsidiaries of Temple University Health System, Inc. (the Health System) (a wholly owned subsidiary of Temple University of The Commonwealth System of Higher Education) under programs of the federal government for the year ended June 30, 2024. The Schedule includes the expenditures of Institute for Cancer Research, doing business as the Research Institute of Fox Chase Cancer Center (a wholly owned subsidiary of American Oncologic Hospital), Temple Center for Population Health, LLC, which is a wholly owned subsidiary of Temple University Health System, Inc., Temple University Hospital, Inc., and Temple Faculty Practice Plan, Inc. Because the Schedule presents only a selected portion of the operations of the Health System, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of the Health System. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Health System and agencies or departments of the federal government and all sub awards to the Health System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
(2) Basis of Accounting: The Schedules is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
(3) Consolidated Financial Statements: The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Health System. All significant intercompany transactions and balances have been eliminated in consolidation.
De Minimis Rate Used: N
Rate Explanation: The Health System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Health System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 3. STATE OF PENNSYLVANIA FUNDED PROGRAMS
Accounting Policies: (1) Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of certain subsidiaries of Temple University Health System, Inc. (the Health System) (a wholly owned subsidiary of Temple University of The Commonwealth System of Higher Education) under programs of the federal government for the year ended June 30, 2024. The Schedule includes the expenditures of Institute for Cancer Research, doing business as the Research Institute of Fox Chase Cancer Center (a wholly owned subsidiary of American Oncologic Hospital), Temple Center for Population Health, LLC, which is a wholly owned subsidiary of Temple University Health System, Inc., Temple University Hospital, Inc., and Temple Faculty Practice Plan, Inc. Because the Schedule presents only a selected portion of the operations of the Health System, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of the Health System. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Health System and agencies or departments of the federal government and all sub awards to the Health System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
(2) Basis of Accounting: The Schedules is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
(3) Consolidated Financial Statements: The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Health System. All significant intercompany transactions and balances have been eliminated in consolidation.
De Minimis Rate Used: N
Rate Explanation: The Health System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Health System received state financial assistance from the Commonwealth of Pennsylvania. The Commonwealth of Pennsylvania financial assistance is not reflected in the Schedule of Expenditures of Federal Awards. These Commonwealth of Pennsylvania financial assistance awards are not audited.
Title: 4. SUBSEQUENT EVENTS
Accounting Policies: (1) Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of certain subsidiaries of Temple University Health System, Inc. (the Health System) (a wholly owned subsidiary of Temple University of The Commonwealth System of Higher Education) under programs of the federal government for the year ended June 30, 2024. The Schedule includes the expenditures of Institute for Cancer Research, doing business as the Research Institute of Fox Chase Cancer Center (a wholly owned subsidiary of American Oncologic Hospital), Temple Center for Population Health, LLC, which is a wholly owned subsidiary of Temple University Health System, Inc., Temple University Hospital, Inc., and Temple Faculty Practice Plan, Inc. Because the Schedule presents only a selected portion of the operations of the Health System, it is not intended to, and does not, present the financial position, revenues, expenses, and changes in net assets of the Health System. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Health System and agencies or departments of the federal government and all sub awards to the Health System by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
(2) Basis of Accounting: The Schedules is presented using the accrual basis of accounting. The amounts reported in the schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
(3) Consolidated Financial Statements: The consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Health System. All significant intercompany transactions and balances have been eliminated in consolidation.
De Minimis Rate Used: N
Rate Explanation: The Health System has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Health System has evaluated subsequent events through March 26, 2025 and has determined that there are no subsequent events requiring adjustment to or disclosure in the consolidated financial statements.