Notes to SEFA
Title: NOTE 3 - Non-Cash Awards
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: N
Rate Explanation: The Children's Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Children's Center has mortgage payable balances outstanding at December 31, 2022. The mortgage balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of the mortgages outstanding at December 31, 2022 is $93,190,475.
Title: NOTE 1 - 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: N
Rate Explanation: The Children's Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Elizabeth Seton Pediatric Center d/b/a Elizabeth Seton Children's Center (the Children's Center) 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 the Children's Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Children's Center.
Title: NOTE 4 - Provider Relief Fund and American Rescue Plan (ARP) Rural Distrib
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: N
Rate Explanation: The Children's Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
For the awards from the Department of Health and Human Services (HHS) related to the Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution (PRF) program, HHS has indicated that the amounts on the Schedule should be reported in accordance with the reporting requirements of the Health Resources and Service Administration (HRSA) PRF Reporting Portal. Payments from HHS for 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 receiving PRF are required to report in the HRSA PRF Reporting Portal after each Period's deadline (i.e., after the end of the Period of Availability). The Schedule includes all Period 3 PRF payments received between January 1, 2021 and June 30, 2021 and all Period 4 PRF payments received between July 1, 2021 and December 31, 2021 reported by the Children's Center to HRSA in the PRF Reporting Portal totaling $448,262. The Children's Center recognized PRF revenue for the year ended December 31, 2021 of $1,286,902 in the financial statement line item Provider Relief Funds in the accompanying statement of operations and changes in net assets. The deferred amount of $838,640 at December 31, 2020 was recognized for the year ended December 31, 2021.
Title: NOTE 5 - Personal Protective Equipment (PPE) (Unaudited)
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: N
Rate Explanation: The Children's Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Childrens Center did not receive donated PPE from a federal source during theyear ended December 31, 2022.