Notes to SEFA
Basis of Presentation — The accompanying Supplemental Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Cincinnati Children’s under programs of the federal government for the year ended June 30, 2025 and is presented on the accrual basis of accounting. This is consistent with the basis of accounting used in the preparation of the basic consolidated financial statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Cincinnati Children’s, it is not intended to and does not present the financial position, changes in net assets or cash flows of Cincinnati Children’s.
All federal grant operations of Children’s Hospital Medical Center and Affiliates (“Cincinnati Children’s”, or the “Company”) are included in the scope of Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Single audits under the Uniform Guidance are performed in accordance with the provisions of the Office of Management and Budget (OMB)’s Compliance Supplement for Single Audits of Higher Learning Institutions and other Non-Profit Institutions (the “Compliance Supplement”). The Department of Health and Human Services has been designated as Cincinnati Children’s cognizant agency for the Single audit.
Cincinnati Children’s did not elect to use the de minimis indirect cost rate as allowed under the Uniform Guidance.