Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Asante Health System and Subsidiaries (the Company) under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200 (2 CFR 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 Company, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
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 accompanying schedule of expenditures of federal awards includes all federal funds expended by the Company during the year ended September 30, 2024. For purposes of the Schedule, federal funds include all grants, contracts, loans, and loan guarantee agreements entered into directly between the Company and agencies and departments of the federal government as well as any federal awards passed through other governmental agencies.
The Company has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Company has not received material donated personal protective equipment (PPE) from federal sources.
The Company received a disaster grant award related to COVID-19 under the COVID-19 – Disaster Grants – Public Assistance (Presidentially Declared Disasters) (ALN 97.036) program. The program provides federal funding through FEMA to state, local, tribal, and territorial governments and certain nonprofit organizations for eligible costs incurred in responding to and recovering from federally declared disasters. The eligible expenditures reported under Assistance Listing Number 97.036 on the Schedule reflect expenditures incurred in years prior to 2025. The amount of expenditures related to prior years is approximately $122.5 million.