Audit 36061

Title: 3.PROVIDER RELIEF FUND AND AMERICAN RESCUE PLAN RURAL DISTRIBUTION Accounting Policies: Basis of Presentation Mount Sinai Medical Center of Florida, Inc. and subsidiaries (the Medical Center) records financial transactions for grants in numerous cost centers. Many of the federal programs administered by the Medical Center follow fiscal periods other than the Medical Centers fiscal years. The majority of grant awards administered by the Medical Center are funded on a cost reimbursement basis. Various reimbursement procedures are used for funding to match expenditures made by the Medical Center for services provided under the grant agreement. Consequently, timing differences between expenditures and program reimbursements may exist. The information in the supplemental schedule of expenditures of federal awards (the Schedule) is presented in accordance with the provisions of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Florida Rules of the Auditor General Chapter 10.650 State Single audit Act Audits of Non-Profit and For-Profit Organizations. Assistance Listing Number (ALN) for federal programs and Catalog of State Financial Assistance (CSFA) numbers for state programs and pass-through numbers are provided when available. Basis of Accounting The accompanying supplemental schedule of expenditures of federal awards and state financial assistance is prepared on the accrual basis of accounting and presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Accordingly, amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. De Minimis Rate Used: N Rate Explanation: The Medical Center was awarded an indirect cost rate of 55 percent for federal grants. For the HHS awards related to the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution (PRF) program, HHS has indicated the amounts on the schedule be reported corresponding to reporting requirements of the Health Resources and Services Administration (HRSA) PRF Reporting Portal. Payments from HHS for PRF are assigned to Payment Received Periods (each, a Period) based upon the date each payment from the PRF was received. Each Period has a specified Period of Availability and timing of reporting requirements. Entities report into the HRSA PRF Reporting Portal after each Periods deadline to use the funds (i.e., after the end of the Period of Availability).The schedule includes $2,514,395 received from HHS between January 1, 2021 to December 31, 2021. The recipient of Assistance Listing Number 93.498 was Mount Sinai Medical Center of Florida, Tax Identification Number 59-0624424. In accordance with guidance from HHS, this amount was submitted to the HRSA PRF Reporting Portal for Period 4 and there was no submission for Portal Period 3. $0 and $2,514,395 were recognized as other revenue in the Medical Centers consolidated financial statements for the years ended December 31, 2022 and 2021, respectively. Due to the PRF Reporting requirements, these amounts are not the total PRF received and/or recognized as other revenue in the years presented in the accompanying consolidated financial statements.