Notes to SEFA
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3. INDIRECT COST RATEPalmetto Health Council, Inc. has elected not to use the 10% de minimus indirect costrate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includethe federal award activity of Palmetto Health Council, Inc. under programs of the federalgovernment for the year ended May 31, 2022. The information in the Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of Palmetto Health Council, Inc., it is notintended to and does not present the financial position, changes in net assets, or cashflows of Palmetto Health Council, Inc.