Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) 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: The System has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying SEFA for 2023 includes the federal grant activity of the System and is presented on the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Uniform Guidance. The basic consolidated financial statement classifications may include other financial activity for reporting purposes. Therefore, some of the amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Title: SUB-RECIPIENT PASS THROUGH
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) 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: The System has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The System did not pass-through federal awards to sub-recipients during 2023.
Title: COVID-19 FEDERAL GRANTS
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) 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: The System has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During 2022, the System received COVID-19 grants from the American Rescue Plan (ARP) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Under terms and conditions of ARP and CARES, the System was required to report COVID-19 related expenses and lost revenue to the U.S. Department of Health and Human Services (HHS). Guidance from HHS has required the reporting of the COVID-19 related expenses and lost revenue in certain reporting periods based on when the funds were received. During 2022, the System received ARP and CARES funds of approximately $8,995,000 and recognized this amount as revenue in its 2022 consolidated statement of operations and changes in net assets as the terms and conditions of the ARP and CARES grants were satisfied by the System during 2022. HHS requires the $8,995,000 be reported on the 2023 SEFA rather than the 2022 SEFA. During 2023, the System did not receive grants under ARP and CARES.
Title: FAIR MARKET VALUE OF DONATED PERSONAL PROTECTIVE EQUIPMENT (UNAUDITED)
Accounting Policies: Expenditures reported on the accompanying consolidated schedule of expenditures of federal awards (SEFA) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sarah Bush Lincoln Health System, Inc. (the System) 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: The System has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During 2023, the System did not receive donated personal protective equipment from federal sources.