Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wyckoff Heights Medical Center (the Medical Center) under programs of the federal government for the year ended December 31, 2024. 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 Medical Center, it is not intended to and does not present the financial position, changes in net asset deficit, or cash flows of the Medical Center.
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.
The Medical Center uses the 10% de minimis indirect cost rate on all programs where the budget allows.
During the year ended December 31, 2024, the Medical Center participated in the State of New York Department of Health WIC program through the provision of nutritional counseling and the receipt and distribution of food vouchers. The U.S. Department of Agriculture, the federal agency that sponsors the WIC program under Federal Assistance Listing Number (ALN) 10.557, has determined that such WIC program food vouchers are considered “property in lieu of money” and, therefore, should be reported as federal awards received by the Medical Center for the purpose of presentation in the accompanying schedule of expenditures of federal awards. The amount reported in the accompanying schedule of expenditures of federal awards for the WIC program consists of $8,622,943 related to food vouchers issued plus administrative and nutritional counseling costs of $1,873,765 for the year ended December 31, 2024. In addition to the federal funds received under the WIC program, 96% of the WIC program’s total administrative and nutritional counseling costs are funded by the State of New York Department of Health. Such amounts are excluded from the Schedule.
The Medical Center has evaluated subsequent events occurring after the consolidated statement of financial position date of December 31, 2024 through May 30, 2025, except for our report on the supplemental schedule of expenditures of federal awards, for which the subsequent events date is September 29, 2025, which is the date these consolidated financial statements were available to be issued. No events arose during the period that would require adjustments or additional disclosures.