Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of La Rabida Childrens Hospital (the Hospital) under programs of the federal government for the year ended June 30, 2022. The information in the 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 Hospital, it is not intended to, and does not, present the financial position, changes in net assets, functional expenses or cash flows of the Hospital.
Title: Subrecipients
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, the Hospital did not provide any amounts to subrecipients.
Title: Non-Cash Assistance, Insurance, Loans and Loan Guarantees Outstanding
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Hospital did not receive any non-cash assistance during the year ended June 30, 2022. There were no federal awards expended for insurance or any loans or loan guarantees outstanding as of June 30, 2022.
Title: Provider Relief Fund
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: The Hospital has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
For the U.S. Department of Health and Human Services (HHS) awards related to the Provider Relief Fund and American Rescue (ARP) Rural Distributions (PRF) program (Assistance Listing Number 93.498). HHS has indicated the amounts on the Schedule be reported corresponding to reporting requirements of the HRSA PRF Reporting Portal. Payments from HHS for the PRF are assigned to Payment Received Periods (each, a Period) based upon the date each payment from the PRF was received. Each Period has a specified Period of Availability and timing of reporting requirements. Entities report in the HRSA PRF Reporting Portal after each Periods deadline to use the funds (i.e. after the end of the Period of Availability).The schedule includes $2,561,882 received from HHS between July 1, 2020 through December 31, 2020. In accordance with guidance from HHS, these amounts were submitted in the HRSA PRF Reporting Portal for Period 2 reporting. Such amounts were recognized in the Hospitals financial statements for the year ended June 30, 2021.