Audit 338228

Title: NON-CASH ASSISTANCE AND LOANS Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Hanahan, South Carolina (the “City”) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, OMB’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The City did not use the 10% de minimis indirect cost rate. There were no federal awards expended in the form of non-cash assistance during the year. There were also no loans or loan guarantees outstanding at year-end.

Title: SUBRECIPIENTS Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Hanahan, South Carolina (the “City”) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, OMB’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The City did not use the 10% de minimis indirect cost rate. The City did not pass through any grant funds to subrecipients for the year ended June 30, 2024.