Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Iroquois Healthcare Association, Inc. and Subsidiaries and Affiliates (collectively, the Association) under programs of the federal government for the year ended December 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 Association, it is not intended to and does not present the financial position, change in net assets or cash flows of the Association.
Expenditures reported on 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.
The Association provided no federal awards to subrecipients for the year ended December 31, 2025.
The Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Association incurred eligible expenses and, therefore, recognized revenue totaling $21,257,881 from DHHS through the Medical Assistance Program (Federal Financial Assistance Listing No. 93.778) during the year ended December 31, 2025, in the consolidated financial statements. In accordance with the 2025 compliance supplement, the program's expenditures recognized on the schedule are based on the reporting of expenses incurred from January 1, 2025 to December 31, 2025 which were obligated by DHHS during 2025, as required under the compliance supplement.