Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bon Secours Mercy Health (the Company). The accompanying schedule is presented using the accrual basis of accounting. 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).
With respect to the Federal Student Loan Program, the Company is only responsible for the performance of certain administrative duties related to approving and disbursing the loan and has no ongoing responsibility for administration of the loan; therefore, the transaction and the balances of the loans outstanding related to this program are not included in the Company’s consolidated financial statements. The schedule of expenditures of federal awards includes the amounts loaned to students during the year ended December 31, 2025.
The Company has elected to use the de minimis indirect cost rate under the Uniform Guidance, which resulted in a rate of up to 15-percent for grants included in the schedule of expenditures of federal awards.
The Company has not received donated personal protective equipment (PPE) from various governmental entities.