Title: Basis of Presentation
Accounting Policies: Health and Human Services (HHS) has indicated the PRF on the SEFA be reported corresponding to reporting requirements of the 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. FP&S reports into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
The SEFA includes $4,438,214 of PRF received on December 23, 2021. In accordance with guidance from HHS, these amounts are presented as Period 4. Such amounts were recognized as other revenue in Faculty Physicians and Surgeons of LLUSM financial statements in the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: There is no grant agreement with expenditures on the SEFA that had indirect cost
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Faculty Physicians and Surgeons of LLUSM (FP&S) under the programs of the federal government for the year ended June 30, 2023. 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 Requirement for Federal Awards (uniform Guidance). Because the Schedule presents only a selected portion of the operations of FP&S, it is not intended to and does not present the financial position, statement of activities or cash flows of FP&S.
Title: Summary of Significant Accounting Policies
Accounting Policies: Health and Human Services (HHS) has indicated the PRF on the SEFA be reported corresponding to reporting requirements of the 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. FP&S reports into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
The SEFA includes $4,438,214 of PRF received on December 23, 2021. In accordance with guidance from HHS, these amounts are presented as Period 4. Such amounts were recognized as other revenue in Faculty Physicians and Surgeons of LLUSM financial statements in the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: There is no grant agreement with expenditures on the SEFA that had indirect cost
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 to reimbursement.
FP&S has elected not to use the 10 percent de minimis indirect cost rate as covered in 2 CFR 200.414.
Title: Provider Relief Fund and American Rescue Plan (ARP) Rural Distributions
Accounting Policies: Health and Human Services (HHS) has indicated the PRF on the SEFA be reported corresponding to reporting requirements of the 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. FP&S reports into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
The SEFA includes $4,438,214 of PRF received on December 23, 2021. In accordance with guidance from HHS, these amounts are presented as Period 4. Such amounts were recognized as other revenue in Faculty Physicians and Surgeons of LLUSM financial statements in the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: There is no grant agreement with expenditures on the SEFA that had indirect cost
The amount presented on the SEFA for Assistance Listing Number 93.498, Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution, is for the year ended June 30, 2023. The amount presented reconciles to the information reported to the Health Resources and Services Administration (HRSA) as follows:
Name of Reporting Entity for HRSA Reporting Period 1
PRF Report Reporting Entity Tax Identification Number (TIN) PRF Funds Received Through June 30, 2022 PRF Expenses Reported Lost Revenues Reported
Faculty Physicians and Surgeons
of LLUSM 33-0672915 $ 4,438,214 $ 866,516 $ 38,946,705
3. Provider Relief Fund and American Rescue Plan (ARP) Rural Distributions (continued)
Health and Human Services (HHS) has indicated that the PRF on the SEFA should be reported corresponding to reporting requirements of the 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. The Group reports into the HRSA PRF Reporting Portal after each Period’s deadline to use the funds (i.e., after the end of the Period of Availability).
The SEFA includes $4,438,214 of PRF distributions received on December 23, 2021. In accordance with guidance from HHS, these amounts are presented as Period 4. Such amounts were recognized as other revenue in the Group’s financial statements for the year ended June 30, 2022.