Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) presents the activity of federal financial assistance programs administered by St. Mary’s Hospital for Children, Inc. (“SMH”) and is presented on an accrual basis of accounting 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”), therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. SMH has elected to use the 10% de minimis cost rate. The purpose of the Schedule of Expenditures of Federal Awards is to present a summary of those expenditures of SMH for the year ended December 31, 2024, which have been supported by the federal government. For purposes of this Schedule of Expenditures of Federal Awards, federal awards include any assistance provided by a federal agency, directly or indirectly in the form of grants, contracts, cooperative subsidies, loans, loan guarantees, property, interest subsidies, insurance, direct appropriations, and other noncash assistance. SMH did not provide any funding to subrecipients during the year ended December 31, 2024.