Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wyckoff Heights Medical Center (the Medical Center) 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 Medical Center, it is not intended to and does not present the financial position, changes in net asset deficit, or cash flows of the Medical Center.
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 Medical Center uses the 10% de minimis indirect cost rate on all programs where the budget allows.
During the year ended December 31, 2025, the Medical Center participated in the State of New York Department of Health Women, Infants, and Children (WIC) program through the provision of nutritional counseling and the receipt and distribution of food vouchers. The U.S. Department of Agriculture, the federal agency that sponsors the WIC program under Federal Assistance Listing Number (ALN) 10.557, has determined that such WIC program food vouchers are considered “property in lieu of money” and, therefore, should be reported as federal awards received by the Medical Center for the purpose of presentation in the accompanying schedule. The amount reported in the accompanying schedule for the WIC program consists of $8,497,007 related to food vouchers issued plus administrative and nutritional counseling costs of $1,710,810 for the year ended December 31, 2025.
The Medical Center has evaluated subsequent events occurring after the consolidated statements of financial position date of December 31, 2025 through May 29, 2026, except for our report on the supplemental schedule, for which the subsequent events date is September 30, 2026, which is the date these consolidated financial statements were available to be issued. No events arose during the period that would require adjustments or additional disclosures.