Notes to SEFA
Title: SEFA Note 2 Summary of Significant Accounting Policies
Accounting Policies: 1. Basis of Presentation The accompanying schedule of expenditures of federal awards (the "Schedule") includes federal award activities of Fairview Health Services for the year ended December 31, 2022. The Schedule includes all federal assistance entered into directly between Fairview Health Services and the federal government and subawards from non-federal organizations made under federally-sponsored agreements. The information in the Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the Schedule presents only a selected portion of the operations of Fairview Health Services. It is not intended to and does present the financial position, changes in net assets, or cash flows of Fairview Health Services.
De Minimis Rate Used: N
Rate Explanation: Fairview Health Services did not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported as incurred using the accrual method of accounting and the applicable cost accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendiures are not allowable or are limited as to reimbursement. Any negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: COVID-19 Provider Relief Fund and American Rescue Plan (ARP) Rural Distr
Accounting Policies: 1. Basis of Presentation The accompanying schedule of expenditures of federal awards (the "Schedule") includes federal award activities of Fairview Health Services for the year ended December 31, 2022. The Schedule includes all federal assistance entered into directly between Fairview Health Services and the federal government and subawards from non-federal organizations made under federally-sponsored agreements. The information in the Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the Schedule presents only a selected portion of the operations of Fairview Health Services. It is not intended to and does present the financial position, changes in net assets, or cash flows of Fairview Health Services.
De Minimis Rate Used: N
Rate Explanation: Fairview Health Services did not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule includes $14,990,610 received from HHS between January 1, 2021 through December 31, 2021 under the Provider Relief Fund (PRF) program of Assistance Listing No. 93.498. These amounts are reported as Period 3 and Period 4 in the HHS PRF Reporting Portal. These amounts were recognized as other revenue and investment income in Fairview Health Service's consolidated financial statements in the accompanying consolidated statements of operations and changes in net assets for the years ended December 31, 2022 and 2021.