Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of BronxCare Health System under programs of the federal government for the year ended December 31, 2022. 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 BronxCare Health System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BronxCare Health System. BronxCare Health Systems consolidated financial statements include the operations of BronxCare Dr. Martin Luther King, Jr. Health Center, Inc., which expended $3,633,961 in federal awards during the year ended December 31, 2022, and which are not included in the Schedule. BronxCare Dr. Martin Luther King, Jr. Health Center, Inc. issues standalone financial statements, including its own schedule of expenditures of federal awards, which are separately audited.
De Minimis Rate Used: N
Rate Explanation: BronxCare Health System has elected not to use the 10% de minimis indirect cost rate allowedunder the Uniform Guidance.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Noncash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of BronxCare Health System under programs of the federal government for the year ended December 31, 2022. 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 BronxCare Health System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BronxCare Health System. BronxCare Health Systems consolidated financial statements include the operations of BronxCare Dr. Martin Luther King, Jr. Health Center, Inc., which expended $3,633,961 in federal awards during the year ended December 31, 2022, and which are not included in the Schedule. BronxCare Dr. Martin Luther King, Jr. Health Center, Inc. issues standalone financial statements, including its own schedule of expenditures of federal awards, which are separately audited.
De Minimis Rate Used: N
Rate Explanation: BronxCare Health System has elected not to use the 10% de minimis indirect cost rate allowedunder the Uniform Guidance.
BronxCare Health System received noncash assistance of $533,697 in the form of food instruments for Federal Assistance Listing (AL) number 10.557 during the year ended December 31, 2022, which were passed through from the New York State Department of Health. Distribution of the food instruments is reflected in the Schedule.
Title: Federal Loan Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of BronxCare Health System under programs of the federal government for the year ended December 31, 2022. 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 BronxCare Health System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of BronxCare Health System. BronxCare Health Systems consolidated financial statements include the operations of BronxCare Dr. Martin Luther King, Jr. Health Center, Inc., which expended $3,633,961 in federal awards during the year ended December 31, 2022, and which are not included in the Schedule. BronxCare Dr. Martin Luther King, Jr. Health Center, Inc. issues standalone financial statements, including its own schedule of expenditures of federal awards, which are separately audited.
De Minimis Rate Used: N
Rate Explanation: BronxCare Health System has elected not to use the 10% de minimis indirect cost rate allowedunder the Uniform Guidance.
BronxCare Health System had no federal loan programs during the year ended December 31, 2022.