Audit 56364

Title: Loan Balances Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Sinai Health System and Affiliates (the Corporation) 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement except for expenditures related to Assistance Listing Number (ALN) 93.498, Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution. ALN 93.498 does not apply the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, but rather applies the U.S. Department of Health and Human Services (HHS) guidance. For the ALN 93.498 program, HHS has indicated the amounts on the Schedule be reported corresponding to reporting requirements of the HHS PRF Reporting Portal. Payments from HHS under ALN 93.498 are assigned to a specific payment received period (each, a "period") based upon the date each payment was received. Each period has a specified period of availability and timing of reporting requirements. Entities report into the HHS PRF Reporting Portal after each period's deadline to use the funds (i.e., after the end of the period of availability). The pass through entity identifying numbers are presented where available. For awards received through the Illinois Department of Health and Human Services, there are no federally funded insurance or commodities included on the Schedule. The Corporation has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the schedule of expenditures of federal awards. The balances of loans outstanding at June 30, 2022 consist of the following: (See Notes to the SEFA for table)