Notes to SEFA
Title: assumptions
Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedules) includes the federal grant activity of Children's Hospital, Touro Infirmary and its Subsidiaries (Touro Infirmary), University Medical Center Medical Corporation (UMCMC), West Jefferson, East Jefferson General Hospital (East Jefferson), and LCMC Health under programs of the federal government for the year ended December 31, 2022, and is presented on the full accrual basis of accounting. 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 System, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the System.
De Minimis Rate Used: N
Rate Explanation: The System has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance,
Costs and lost revenues related to the Provider Relief Fund PRF program are repoted in the PRF reporting portal the Portal. The forms reported in the Portal allowed for direct costs as well as General and Administrative Expenses which was meant to capture expenses such as mortgage costs, rent, insurance, personnel, fringe benefits, utilities, and other similar costs that were not direct costs. To make a reasonable determination of these Genreal and Administrative expenses, management used the same methodology used for developing estimates of similar costs for federal Cost Reporting.