Notes to SEFA
Accounting Policies: NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of
Hampton County, South Carolina (the “County”), and is presented on the accrual basis of accounting.
The County reporting entity is defined in Note 1 of the County’s basic financial statements.
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. Therefore, some amounts presented in the schedule may
differ from amounts presented in, or used in the preparation of, the basic financial statements.
NOTE 2. SIGNIFICANT ACCOUNTING POLICIES
Measurement Focus
The determination of when an award is expended is based on when the activity related to the award
occurred.
Program Type Determination
Type A programs are defined as federal programs with federal expenditures exceeding the larger of
$750,000, or 3%, of total federal expenditures. The threshold of $750,000 was used in distinguishing
between Type A and Type B programs.
Method of Major Program Selection
The risk-based approach was used in the selection of federal programs to be tested as major
programs. The County did not qualify as a low-risk auditee for the fiscal year ended June 30, 2024.
De-Minimis Indirect Cost Rate
During 2024, the County did not use the de-minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: During FY24, the County did not use the de-minimis indirect cost rate.