Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) summarizes the expenditures of Franciscan Alliance, Inc. and Affiliates (collectively referred to as “Franciscan”) under programs of the federal government for the year ended December 31, 2025. The information presented in the Schedule is presented using the accrual basis and is 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”). Pass-through entity identification numbers and Assistance Listing Numbers have been provided where available. For the purposes of the Schedule, federal awards include all sub awards to Franciscan by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. Franciscan charges a de minimis indirect cost rate of up to 15%, as described in Section 200.414 of the Uniform Guidance.
The Federal Direct Student Loan programs are administered by outside financial institutions and balances and transactions relating to these programs are not included in Franciscan's consolidated financial statements. Federally guaranteed loans issued to students of Franciscan’s St. Elizabeth School of Nursing by financial institutions during the year ended December 31, 2025, under the Federal Direct Loan program that includes Subsidized, Unsubsidized, and PLUS loans (Assistance Listing Number 84.268), totaled $1,264,715.
Disaster grants include $1,501,373 of expenditures incurred in a previous year and obligated by the Federal Emergency Management Agency during the year ended December 31, 2025.