Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_HOSPITALS (14.128) - Balances outstanding at the end of the audit period were 63993890.
Title: Federal Direct Student Loan Program
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Under the Federal Direct Student Loan Program including subsidized and unsubsidized Student Loans and Parents' Loans for Undergraduate Students, Ellis Medicine processes student loan applications for the Federal government. The amount of loans issued for Ellis Medicine students and parents for the year ended December 31, 2022 was approximately $272,000. With respect to the Federal Direct Student Loans, Ellis Medicine is only responsible for the performance of certain administrative duties; therefore, Ellis Medicine's consolidated financial statements do not include any amounts relative to these loans.
Title: U.S. Department of Housing and Urban Development Insurance Program
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Ellis Medicine's debt service payments for certain loan agreements are insured by the U.S. Department of Housing and Urban Development (HUD) under Section 242 of the National Housing Act, as described in note 9 to the consolidated financial statements. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. As further described in note 9 to the consolidated financial statements, Ellis Medicine refinanced certain agreements during 2022. Net debt service payments for the year ended December 31, 2022 totaled $1,114,530. The balance of the loans outstanding at December 31, 2022 consists of CFDA Number 14.128, Section 242 HUD- insured loans totaling $63,993,890.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Ellis Medicine provided no federal awards to subrecipients for the year ended December 31, 2022.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Ellis Medicine has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Provider Relief Fund
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Ellis Medicine's policy is not to charge federal programs with indirect costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Ellis Medicine received amounts from the U.S. Department of Health and Human Services (DHHS) through the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution program (Federal Financial Assistance Listing No. 93.498) during the year ended December 31, 2021 totaling $17,533,801. The Hospital incurred eligible expenses (including lost revenue) and, therefore, recognized revenue consisting of $17,533,801 for the year ended December 31, 2021 on the consolidated financial statements. In accordance with the 2022 compliance supplement, the program's expenditures recognized on the schedule are based on the reporting to DHHS for Period 3, defined as payments received during January 1, 2021 to June 30, 2021 of $48,960 and DHHS Period 4, defined as payments received during July 1, 2021 to December 31, 2021 of $17,484,841.