Notes to SEFA
Accounting Policies: Note 1 DescriptionCareSouth 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 PoliciesThe financial activity shown on the Schedule of Expenditures of Federal Awards reflects amounts recorded by CareSouth during its fiscal year June 1,2021, through May 31, 2022, and accordingly does not include a full years financial activity for grants awarded or terminated on dates not coinciding with CareSouth Carolinas 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: The auditee did not use the de minimis cost rate.