Audit 292996

Title: Note 1 Description Accounting Policies: Note 1 Description CareSouth has adopted Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards were adopted to fulfill the financial and compliance audit requirements of federal grantor agencies. For purposes of implementing Uniform Guidance, federal grant awards were made susceptible to audit and are included in the Schedule of Expenditures of Federal Awards. Note 2 Summary of Significant Accounting Policies The financial activity shown on the Schedule of Expenditures of Federal Awards reflects amounts recorded by CareSouth during its fiscal year June 1, 2022, through May 31, 2023, and accordingly does not include a full year’s financial activity for grants awarded or terminated on dates not coinciding with CareSouth Carolina’s fiscal year. CareSouth reports these on the accrual basis of accounting. CareSouth has not elected to use the 10 percent de minimis cost rate as covered in 2 CFR 200.414 when applicable. De Minimis Rate Used: N Rate Explanation: Entity chose not to use the 10% de minimis cost rate. CareSouth has adopted Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards were adopted to fulfill the financial and compliance audit requirements of federal grantor agencies. For purposes of implementing Uniform Guidance, federal grant awards were made susceptible to audit and are included in the Schedule of Expenditures of Federal Awards.

Title: Note 2 Summary of Significant Accounting Policies Accounting Policies: Note 1 Description CareSouth has adopted Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards were adopted to fulfill the financial and compliance audit requirements of federal grantor agencies. For purposes of implementing Uniform Guidance, federal grant awards were made susceptible to audit and are included in the Schedule of Expenditures of Federal Awards. Note 2 Summary of Significant Accounting Policies The financial activity shown on the Schedule of Expenditures of Federal Awards reflects amounts recorded by CareSouth during its fiscal year June 1, 2022, through May 31, 2023, and accordingly does not include a full year’s financial activity for grants awarded or terminated on dates not coinciding with CareSouth Carolina’s fiscal year. CareSouth reports these on the accrual basis of accounting. CareSouth has not elected to use the 10 percent de minimis cost rate as covered in 2 CFR 200.414 when applicable. De Minimis Rate Used: N Rate Explanation: Entity chose not to use the 10% de minimis cost rate. The financial activity shown on the Schedule of Expenditures of Federal Awards reflects amounts recorded by CareSouth during its fiscal year June 1, 2022, through May 31, 2023, and accordingly does not include a full year’s financial activity for grants awarded or terminated on dates not coinciding with CareSouth Carolina’s fiscal year. CareSouth reports these on the accrual basis of accounting. CareSouth has not elected to use the 10 percent de minimis cost rate as covered in 2 CFR 200.414 when applicable.