Notes to SEFA
Basis of Presentation - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of North Memorial Health Care ("North Memorial") 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 North Memorial, it is not intended to and does not present the financial position, changes in net assets, or cash flows of North Memorial. Summary of Significant 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. In particular, ALN 97.036 Federal Emergency Management Agency total expenditures reported on the Schedule represent expenditures incurred for projects that have been approved and reimbursed by the Federal Emergency Management Agency for the year ending December 31, 2024. Pass-through entity identifying numbers are presented where available.
North Memorial did not elect to use the de minimus indirect cost rate allowed under the Uniform Guidance.