2005 Comprehensive Annual Financial Report The Comprehensive Annual Financial Report (CAFR) is the County's official annual presentation of financial statements. The report consists of three basic sections. The Introductory Section provides general information on the County's incorporation, form of government, major initiatives and accounting systems and budgetary control. The Financial Section contains the independent auditor's report, the Management's Discussion and Analysis - a narrative introduction, overview, and analysis of the County's overall financial position and results of operations, and the basic financial statements, including required note disclosures. The Statistical Section provides a variety of trend data covering key financial indicators from the past several fiscal years, as well as other demographic and miscellaneous statistical data useful in assessing the County's financial condition.

» Title Page, Table of Contents  [440 KB]
Introductory Section
» view  [1.28 MB]
Letter of Transmittal i-xvi
Certificate of Achievement for Excellence in Financial Reporting xvii
List of Principal Officials xviii
Organizational Chart xiv
Financial Section
» pp. 1-16  [2.66 MB]
Independent Auditors' Report 1-2
Management's Discussion and Analysis 3-16
Audited Basic Financial Statements
» pp. 17-33 [746 KB]
Statement of Net Assets (Government-Wide) 17-19
Statement of Activities (Government-Wide) 20
Balance Sheets - Governmental Funds 21-23
Statements of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 24-26
Balance Sheets - Proprietary Funds 27-28
Statements of Revenues, Expenses and Changes in Net Assets - Proprietary Funds 29-30
Statements of Cash Flows - Proprietary Funds 31-32
Statement of Fiduciary Net Assets - Fiduciary Funds 33
» pp. 34-82 [3.37 MB]
Notes to Financial Statements 34-82
Required Supplementary Information
» pp. 83-90 [339 KB]
Budgetary Comparison Schedule – General Fund 83-86
Budgetary Comparison Schedule – Hospitality 1.5 % fund 87
Required Supplementary Information for Governments that use the Modified Approach for Infrastructure Assets 88-90
OTHER FINANCIAL INFORMATION
Combining "Non-Major" Governmental Financial Statements:
» pp. 91-109 [958 KB]
Combining Balance Sheets - Non-Major Governmental Funds 91
Combining Statements of Revenues, Expenditures and Changes in Fund Balance - Non-Major Governmental Funds 92
INDIVIDUAL FUND FINANCIAL STATEMENTS
General Fund:
» pp. 91-109 [958 KB]
Balance Sheet 93
Statement of Revenues, Expenditures and Changes in Fund Balances - Budget (GAAP Basis) and Actual 94-109
Special Revenue Funds:
» pp. 110-134 [1.08 MB]
Combining Balance Sheet-Special Revenue Funds 110-111
Combining Statement of Revenues, Expenditures and Changes in Fund Balance – Special Revenue Funds 112-113
Balance Sheet – Fire Special Revenue Fund 114
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP) Basis) and Actual – Fire Special Revenue Fund 115
Balance Sheet – Accommodations Tax Special Revenue Fund 116
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Accommodations Tax Special Revenue Fund 117-118
Balance Sheet - Waste Management Recycling Special Revenue Fund 119
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Waste Management Recycling Special Revenue Fund 120
Balance Sheet – Watershed Special Revenue Fund 121
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Watershed Special Revenue Fund 122
Balance Sheet – Mt. Gilead Special Revenue Fund 123
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Mt. Gilead Special Revenue Fund 124
Balance Sheet – Socastee Recreation Special Revenue Fund 125
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Socastee Recreation Special Revenue Fund 126
Balance Sheet – Road Maintenance and CTC Special Revenue Fund 127
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Road Maintenance and CTC Special Revenue Fund 128-129
Balance Sheet – Beach Nourishment Special Revenue Funds 130
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Beach Nourishment Special Revenue Fund 131
Balance Sheet – Grants Special Revenue Fund 132
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Grants Special Revenue Fund 133-134
Special Revenue Funds:
» pp. 135-161 [913 KB]
Balance Sheet – Admissions Tax Special Revenue Fund 135
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Admissions Tax Special Revenue Fund 136
Balance Sheet – Hospitality Fee 1.0% Special Revenue Fund 137
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Hospitality Fee 1.0% Special Revenue Fund 138
Balance Sheet – Victim Witness Assistance Special Revenue Fund 139
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Victim Witness Assistance Special Revenue Fund 140-141
Balance Sheet – Senior Citizens Special Revenue Fund 142
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Senior Citizens Special Revenue Fund 143
Balance Sheet – Railroad Special Revenue Fund 144
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Railroad Special Revenue Fund 145
Balance Sheet – Arcadian Shores Special Revenue Fund 146
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Arcadian Shores Special Revenue Fund 147
Balance Sheet – CDBG Revolving Loan Special Revenue Fund 148
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – CDBG Revolving Loan Special Revenue Fund 149
Balance Sheet – Storm Water Management Special Revenue Fund 150
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Storm Water Management Special Revenue Fund 151
Balance Sheet – GIS/IT Special Revenue Fund 152
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – GIS/IT Special Revenue Fund 153
Balance Sheet – Multi-County Business Park Special Revenue Fund 154
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Multi-County Business Park Special Revenue Fund 155
Balance Sheet – Local Accommodations Tax Special Revenue Fund 156
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Local Accommodations Tax Special Revenue Fund 157
Balance Sheet – Recreation Special Revenue Fund 158
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Recreation Special Revenue Fund 159
Balance Sheet – Hospitality Fee 1.5% Special Revenue Fund 160
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Hospitality Fee 1.5% Special Revenue Fund 161
Capital Projects Fund:
» pp. 162-163 [121 KB]
Balance Sheet - General Improvement Capital Projects Fund 162
Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (GAAP Basis) and Actual - General Improvement Capital Projects Fund 163
Debt Service Funds:
» pp. 164-176 [3.12 MB]
Combining Balance Sheet – Debt Service Funds 164
Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Debt Service Funds 165-166
Balance Sheet – General Debt Service Fund 167
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – General Debt Service Fund 168
Balance Sheet – Higher Education Debt Service Fund 169
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Higher Education Debt Service Fund 170
Balance Sheet – Horry – Georgetown TECH Debt Service Fund 171
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Horry – Georgetown TECH Debt Service Fund 172
Balance Sheet – Special Obligation Debt Service Fund 173
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – Special Obligation Debt Service Fund 174
Balance Sheet – RIDE Program Debt Service Fund 175
Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (GAAP Basis) and Actual – RIDE Program Debt Service Fund 176
Proprietary (Enterprise) Fund:
» pp. 177-188 [625 KB]
Balance Sheet – Department of Airports Enterprise Fund 177-178
Statement of Revenues, Expenses and Changes in Net Assets – Department of Airports Enterprise Fund 179-180
Statement of Cash Flows – Department of Airports Enterprise Fund 181-182
Balance Sheet – Baseball Stadium Enterprise Fund 183
Statement of Revenues, Expenses and Changes in Net Assets – Baseball Stadium Enterprise Fund 184
Statement of Cash Flows – Baseball Stadium Enterprise Fund 185
Balance Sheet – Industrial Parks Enterprise Fund 186
Statement of Revenues, Expenses, and Changes in Net Assets – Industrial Parks Enterprise Fund 187
Statement of Cash Flows – Industrial Parks Enterprise Fund 188
Internal Service Fund:
» pp. 189-201 [518 KB]
Balance Sheet – Fleet Service Internal Service Fund 189
Statement of Revenues, Expenses and Changes in Net Assets – Fleet Service Internal Service Fund 190
Statement of Cash Flows – Fleet Service Internal Service Fund 191
Fiduciary (Agency) Fund:
» pp. 189-201 [518 KB]
Combining Statement of Changes in Assets and Liabilities – All Agency Funds 192-197
Capital Assets Used in the Operation of Governmental Funds:
» pp. 189-201 [518 KB]
Schedule of Capital Assets Used in the Operation of Governmental Funds by Source 198
Schedule of Capital Assets Used in the Operation of Governmental Funds by Function and Activity 199
Schedule of Changes in Capital Assets Used in the Operation of Governmental Funds by Function and Activity 200
Victim's Rights:
» pp. 189-201 [518 KB]
Schedule of Court Fines, Assessments and Surcharges 201
Statistical Section
(Unaudited and Not Covered By The Report of Independent Auditors)
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General Government Revenues by Function 202
Government-Wide Revenues 203
General Government Expenditures by Function 204
Government-Wide Expenses by Function 205
Property Tax Levies and Collections 206
Property Tax Rates Per $1000 Assessed Value Direct and Overlapping Governments 207
Assessed and Estimated Actual Value of Taxable Property 208
Ratio of Net General Obligation Bonded Debt to Assessed Value and Net Bonded Debt Per Capita 209
Computation of Legal Debt Margin 210
Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures 211
Schedule of Revenue Bond Coverage - Myrtle Beach International Airport 212
Computation of Direct and Overlapping General Long-Term Debt 213
Population 214
Demographic Statistics 215
Ten Largest Principal Taxpayers 216
Schedule of Property Value, Construction and Bank Deposits 217
Nonagricultural Employment 218
Major Employers Located Within the County, Their Product and Approximate Number of Employees 219
Labor Force Statistics 220
Gross Retail Sales Figures 221
Budgeted Employee Positions by Department-Five Year Comparison FY00-FY04 222-223
Total Employees by Division – Employees Budgeted for Fiscal Year 2004 224
Multi-County Business Park FILOT Assessed and FILOT Paid 225