Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Louisiana Children’s Medical Center (LCMC Health), Children’s Hospital and subsidiaries (Children’s), Touro Infirmary and subsidiaries (Touro), University Medical Center Management Corporation (UMC), West Jefferson Medical Center and subsidiaries (WJMC), and East Jefferson General Hospital (EJGH) under programs of the federal government for the year ended December 31, 2024, and is presented on the full accrual basis of accounting. 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). Because the Schedule presents only a selected portion of the operations of the System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System.
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.