Notes to SEFA
Title: Basis of Presentation
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See notes
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Horry County Schools (the "District")
under programs of the federal government for the year ended June 30, 2023. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does
not present the financial position, change in net position, or cash flows of the District.
Title: Summary of Accounting Policies
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See notes
Expenditures reported on the Schedule are reported on the 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. Pass-through entity
identifying numbers are presented where available.
Title: Note
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: See notes
The District has a restricted indirect cost rate that is used for its federal programs and did not use the 10% de Minimis indirect cost rate allowed under the
Uniform Guidance and covered in 2 CFR Part 200.414.