Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activities in all federal financial award programs of Saint James Health, Inc. All financial awards received directly from federal agencies as well as all financial awards passed through other governmental agencies or non-for-profit organizations are included in this schedule.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Saint James Health, Inc. 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 Saint James Health, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Saint James Health, Inc.
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.
There were no amounts provided to subrecipients from federal awards received during the year ended December 31, 2025.
Saint James Health, Inc. has elected to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.