Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Children's Hospital of Chicago Medical Center and Affiliation Corporations (the Medical Center) under programs of the federal government for the year ended August 31, 2025. 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 the Medical Center, it is not intented to and does not present the financial position, changes in net assets or cash flows of the Medical Center.
Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Medical Center has not elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The Medical Center did not receive any noncash assistance during the year ended August 31, 2025. There were no federal awards expended for insurance or any loans or loan guarantees outstanding as of August 31, 2025.