Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of Federal awards (SEFA) includes the Federal grant activity (both direct and pass through) of University Hospital (the “Hospital”) and is presented on the accrual basis of accounting, except the Homeland Security Grant Program (Assistance Listing Number (ALN 97.067), which is presented based on the reimbursement amount requested and approved by the State of New Jersey, Economic Development Authority.
The information in these schedules 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). Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedules present only a selected portion of the activities of the Hospital, they are not intended to and do not present either the financial position, changes in financial position, or cash flows of the Hospital. The Hospital has included expenditures and adjustments on prior-year grant awards where extensions have been granted from funding agencies or additional funding is expected from funding agencies.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate for the year ended June 30, 2024, as permitted by Federal Uniform Guidance
The accompanying schedule of expenditures of Federal awards (SEFA) includes the Federal grant activity (both direct and pass through) of University Hospital (the “Hospital”) and is presented on the accrual basis of accounting, except the Homeland Security Grant Program (Assistance Listing Number (ALN 97.067), which is presented based on the reimbursement amount requested and approved by the State of New Jersey, Economic Development Authority.
The information in these schedules 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). Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedules present only a selected portion of the activities of the Hospital, they are not intended to and do not present either the financial position, changes in financial position, or cash flows of the Hospital. The Hospital has included expenditures and adjustments on prior-year grant awards where extensions have been granted from funding agencies or additional funding is expected from funding agencies.
Title: NOTE 2 - INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of Federal awards (SEFA) includes the Federal grant activity (both direct and pass through) of University Hospital (the “Hospital”) and is presented on the accrual basis of accounting, except the Homeland Security Grant Program (Assistance Listing Number (ALN 97.067), which is presented based on the reimbursement amount requested and approved by the State of New Jersey, Economic Development Authority.
The information in these schedules 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). Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedules present only a selected portion of the activities of the Hospital, they are not intended to and do not present either the financial position, changes in financial position, or cash flows of the Hospital. The Hospital has included expenditures and adjustments on prior-year grant awards where extensions have been granted from funding agencies or additional funding is expected from funding agencies.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate for the year ended June 30, 2024, as permitted by Federal Uniform Guidance
The Hospital did not elect to use the 10% de minimis indirect cost rate for the year ended June 30, 2024, as permitted by Federal Uniform Guidance
Title: NOTE 3 - SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of Federal awards (SEFA) includes the Federal grant activity (both direct and pass through) of University Hospital (the “Hospital”) and is presented on the accrual basis of accounting, except the Homeland Security Grant Program (Assistance Listing Number (ALN 97.067), which is presented based on the reimbursement amount requested and approved by the State of New Jersey, Economic Development Authority.
The information in these schedules 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). Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedules present only a selected portion of the activities of the Hospital, they are not intended to and do not present either the financial position, changes in financial position, or cash flows of the Hospital. The Hospital has included expenditures and adjustments on prior-year grant awards where extensions have been granted from funding agencies or additional funding is expected from funding agencies.
De Minimis Rate Used: N
Rate Explanation: The Hospital did not elect to use the 10% de minimis indirect cost rate for the year ended June 30, 2024, as permitted by Federal Uniform Guidance
The Hospital did not pass any amounts through to subrecipients for the year ended June 30, 2024.