Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Horry County under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of HorryCounty, it is not intended to and does not present the financial position, changes in net position or cash flows ofHorry County. The expenditures presented in the Schedule reflect amounts recorded by Horry County, South Carolina during itsfiscal year July 1, 2021 through June 30, 2022, and are on the modified accrual basis of accounting except forCFDA 20.106, and 97.090 which are on the full accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles forState, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. The County has elected to use the 10% de minimis indirect cost rate as allowedunder the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.