Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards and the schedule of expenditures of state awards (the schedules) includes the federal and state grant activity of Professional Care Services of West TN, Inc. under programs of the federal and state governments for the year ended June 30, 2024. The information in the schedules is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedules present only a selected portion of the operations of Professional Care Services of West, TN, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows Professional Care Services of
West, TN, Inc. Expenditures reported on the schedules are reported on the accrual basis of accounting. Certain amounts shown on the schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Professional Care Services of West TN, Inc. has an approved indirect cost allocation plan and therefore is not subject to using the 10 percent de minimis indirect cost rate.