Notes to SEFA
Accounting Policies: (1) Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of Legacy Health (Legacy) under programs of the federal government for the fiscal year ended
March 31, 2023. The information in the Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations Part 200 (2 CFR 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 Legacy, it is not intended to and does not present the
balance sheet, operations, changes in net assets, or cash flows of Legacy.
Financial assistance received directly from federal agencies as well as financial assistance passed through
from other agencies are included in the accompanying schedule. Legacy’s financial reporting entity is
described in note 1 to Legacy’s consolidated financial statements.
(2) Summary of Significant Accounting Policies
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 as to reimbursement. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Legacy has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.