Notes to SEFA
Title: 1
Accounting Policies: The expenditures presented in the Schedule reflect amounts recorded by Horry County, South Carolina during its
fiscal year July 1, 2022 through June 30, 2023, and are on the modified accrual basis of accounting except for AL
20.106 which are on the full 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. The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity
of Horry County 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 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 Horry County, it is not
intended to and does not present the financial position, changes in net position or cash flows of Horry County.
Title: 2
Accounting Policies: The expenditures presented in the Schedule reflect amounts recorded by Horry County, South Carolina during its
fiscal year July 1, 2022 through June 30, 2023, and are on the modified accrual basis of accounting except for AL
20.106 which are on the full 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. The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
The expenditures presented in the Schedule reflect amounts recorded by Horry County, South Carolina during its
fiscal year July 1, 2022 through June 30, 2023, and are on the modified accrual basis of accounting except for AL
20.106 which are on the full 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. The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
Title: 3
Accounting Policies: The expenditures presented in the Schedule reflect amounts recorded by Horry County, South Carolina during its
fiscal year July 1, 2022 through June 30, 2023, and are on the modified accrual basis of accounting except for AL
20.106 which are on the full 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. The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The County has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance.
After a Presidential-Declared Disaster, Federal Emergency Management Agency (“FEMA”) provides a Public
Assistance Grant to reimburse eligible costs associated with repair, replacement, or restoration of disasterdamaged
facilities. The federal government reimburses in the form of cost-shared grants. For the year ended
June 30, 2023, FEMA approved approximately $118,000 of eligible expenditures some of which were incurred in
a prior year and are included in the Schedule.