Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the New York Society for the Relief of the Ruptured and Crippled, Maintaining the Hospital for the Special Surgery (the Hospital) and is presented on the accrual basis of accounting. The information in the 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 (the Uniform Guidance). For purposes of the Schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, loan and loan guarantees, or other non-cash assistance. In accordance with applicable requirements, certain programs may be presented in a fiscal period based on the program-specific guidance (see Note 3). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements of the Hospital. Direct and indirect costs are charged to awards in accordance with cost principles contained in the United States Department of Health and Human Services Cost Principles for Hospitals at 45 CFR Part 75 Appendix IX for awards subject to the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
The Uniform Guidance provides for a 10% de minimis indirect cost rate election; however, the Hospital did not make this election as the Hospital uses a negotiated indirect cost rate.
The Hospital incurred certain expenditures related to the COVID-19 pandemic through 2023 totaling approximately $6.8 million which were obligated in 2024 for reimbursement under an award from the Federal Emergency Management Agency (FEMA) under the COVID-19 Disaster Grants – Public Assistance (Presidentially Declared Disasters) program (Assistance Listing No. 97.036). This amount is included in the accompanying Schedule for the year ended December 31, 2024 in accordance with the guidance specific to Assistance Listing No. 97.036. FEMA projects are subject to final close-out reviews upon which amounts paid during the project are finalized.