Title: 1
Accounting Policies: NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of the City of Goose Creek, South Carolina (the “City”) under programs of the
federal government for the year ended December 31, 2023.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of operations of the City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de Minimis indirect cost rate allowed under the Uniform
Guidance.
NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of the City of Goose Creek, South Carolina (the “City”) under programs of the
federal government for the year ended December 31, 2023.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of operations of the City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City.
Title: 2
Accounting Policies: NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of the City of Goose Creek, South Carolina (the “City”) under programs of the
federal government for the year ended December 31, 2023.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of operations of the City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de Minimis indirect cost rate allowed under the Uniform
Guidance.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: 3
Accounting Policies: NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of the City of Goose Creek, South Carolina (the “City”) under programs of the
federal government for the year ended December 31, 2023.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of operations of the City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de Minimis indirect cost rate allowed under the Uniform
Guidance.
NOTE 3. INDIRECT COST RATE
The City has elected not to use the 10% de Minimis indirect cost rate allowed under the Uniform
Guidance.
Title: 4
Accounting Policies: NOTE 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
federal award activity of the City of Goose Creek, South Carolina (the “City”) under programs of the
federal government for the year ended December 31, 2023.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of operations of the City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de Minimis indirect cost rate allowed under the Uniform
Guidance.
NOTE 4. NON-CASH AWARDS
The City did not receive any non-cash federal awards during the year ended December 31, 2023.