Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal award programs of Anderson County, South Carolina (the “County”) for the year ended June 30, 2024. Expenditures for federal financial assistance awarded directly from federal agencies, as well as those passed through other government agencies, are included on the Schedule. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). BASIS OF ACCOUNTING: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in the notes to the County’s financial statements. RELATIONSHIP TO THE FINANCIAL STATEMENTS: Federal award expenditures are reported in the County’s financial statements generally as expenditures in the General Fund and special revenue funds and as expenses and/or capital assets additions in the enterprise funds. MATCHING COSTS: Matching costs (i.e., the non-federal share of certain program costs) are not included in the accompanying Schedule.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.