Audit 360335

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") summarizes the federal grant expenditures of University of Alabama Health Services Foundation, P.C. (the "Foundation") under programs of the federal government for the year ended September 30, 2024. The information presented in the Schedule is presented on the accrual basis of accounting and in accordance with the 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 this Schedule differ from amounts presented in or used in preparation of the financial statements. As 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, results of operations and changes in net assets, and cash flows of the Foundation. The Foundation applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly or indirectly between the Foundation and agencies and departments of the federal government and all subawards to the Foundation by non-federal organizations pursuant to federal grants, contracts, and similar agreements. De Minimis Rate Used: N Rate Explanation: The Foundation applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance.