Audit 360601

Title: Note 1 - BASIS OF PRESENTATION Accounting Policies: ACCRUAL BASIS OF ACCOUNTING De Minimis Rate Used: N Rate Explanation: SCTAC did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of South Carolina Technology & Aviation Center under programs of the federal government for the fiscal year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 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 South Carolina Technology & Aviation Center, it is not intended to and does not present the financial position or changes in net assets of South Carolina Technology & Aviation Center.

Title: Note 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: ACCRUAL BASIS OF ACCOUNTING De Minimis Rate Used: N Rate Explanation: SCTAC did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported in this 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. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.

Title: Note 3 - CATAGOF OF FEDERAL DOMESTIC ASSISTANCE (CFDA) NUMBER Accounting Policies: ACCRUAL BASIS OF ACCOUNTING De Minimis Rate Used: N Rate Explanation: SCTAC did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The program titles and CFDA numbers were obtained from the 2024 Catalog of Federal Domestic Assistance.

Title: Note 4 - INDIRECT COST RATE Accounting Policies: ACCRUAL BASIS OF ACCOUNTING De Minimis Rate Used: N Rate Explanation: SCTAC did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. SCTAC did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.