Notes to SEFA
The schedule of expenditures of federal awards and state financial assistance (the Schedule) is prepared on the accrual basis in accordance with accounting principles generally accepted in the United States. It includes all federal and state expenditures of Baptist Health Care, Inc. and Subsidiaries (BHC). 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 (Uniform Guidance) and Chapter 10.650, Rules of the Auditor General of the State of Florida. BHC has not elected to use the 15% de minimis cost rate for indirect costs for the year ended September 30, 2025.
The disbursement of funds received under federal and state grant programs is subject to review and audit by grantor agencies. Any disbursements disallowed by these agencies could become a liability of BHC. In the opinion of management, any such claims will not have a material adverse effect of the financial position of BHC.
Expenditures totaling $32,353,854 under Assistance Listing Number (ALN) 97.036 were incurred in prior years and included in approved Project Worksheets during the fiscal year ended September 30, 2025, and are therefore included in the Schedule for the year ended September 30, 2025.