Notes to SEFA
Title: NOTE 1. SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award transactions of audited Roswell Park Cancer Institute Corporation d/b/a Roswell Park Comprehensive Cancer Center (“Roswell Park” or “Center”) reported on the 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). In accordance with these requirements, certain grants are not dependent on the Center’s expenditure activity and, accordingly, are considered to be expended in the fiscal year of receipt. The amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, change in net assets or cash flows of the Center. The Center has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Not deemed necessary.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award transactions of audited Roswell Park Cancer Institute Corporation d/b/a Roswell Park Comprehensive Cancer Center (“Roswell Park” or “Center”) reported on the 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). In accordance with these requirements, certain grants are not dependent on the Center’s expenditure activity and, accordingly, are considered to be expended in the fiscal year of receipt. The amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, change in net assets or cash flows of the Center. The Center has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
COVID-19 Provider Relief Fund and American Rescue Plan (ARP) Rural Distribution – Assistance Listing Number 93.498 For the HHS awards related to the Provider Relief Fund (PRF) and American Rescue Plan (ARP) Rural Distribution program, HHS has indicated the amounts on the Schedule 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. Entities report 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 Schedule includes $1,065,810 received from HHS between July 1, 2021 through December 31, 2021. In accordance with guidance from HHS, this amount is presented as Period 4 and was recognized as other income within non-operating revenue in the Center's consolidated statements of revenues, expenses, and changes in net position for the year ended March 31, 2023. Due to the PRF Reporting requirements, this amount does not equal the total PRF received and/or recognized as other income in the year presented in the Schedule.
COVID-19 – Disaster Grants – Public Assistance (Presidentially Declared Disasters) – Assistance Listing Number 97.036 Following a Presidential declaration of a major disaster or an emergency, the Federal Emergency Management Agency (FEMA), Department of Homeland Security (DHS), awarded grants to assist certain entities to respond and recover from disasters in this case COVID-19 to help reduce the spread of infection. Included in the Schedule of Federal Expenditures the Center has recorded $5,273,084 for expenditures incurred and reimbursed or obligated from FEMA on claims related to qualified COVID-19 expenditures during the period March 20, 2020 through July 1, 2022.
Estimates The preparation of the schedule in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount in other income during the reporting period. Actual results could differ from those estimates.
Subsequent Events The schedule and related disclosures include evaluation of events through December 27, 2023, which is the date the schedule was available to be issued.