Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) has been prepared from The Children’s Hospital of Los Angeles (“Hospital”) accounting records and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation, of the general-purpose financial statements
All capital expenditures are charged in the period in which the expenditure is incurred or as otherwise determined appropriate by and negotiated with the awarding agency.
The Hospital receives certain federal awards from pass-through agencies where the amounts are commingled by the pass-through agency with other nonfederal funds and cannot be separately identified. The total amount of pass-through awards is included in the schedule of expenditures of federal awards.
The Hospital also provided federal awards to subrecipients, of which the amounts are presented in the schedule of expenditures of federal awards.
The Hospital has not elected to use the de minimums indirect cost rate.
Net credit balances in the expenditures column are the result of timing differences from effective dates of awards to when the Hospital receives award notices, delays in receiving no-cost extensions, and supplemental expenditures and do not represent overbillings or overpayments on such awards. As a result of these circumstances, total federal expenditures of $ 75,376,641 is shown net of $ 867,355 of credit balances for the year ended June 30, 2024.