Title: Notes to Schedule of Expenditures of Federal Awards
Accounting Policies: (1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de minimus indirect cost rate.
Note 1 - Basis of Presentation
Title: Note 1 - Basis of Presentation
Accounting Policies: (1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de minimus indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Fauquier, Virginia under programs of the Federal Government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200)). Because the Schedule presents only a selected portion of operations of the County of Fauquier, Virginia, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the County of Fauquier, Virginia.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: (1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de minimus indirect cost rate.
(1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
Title: Note 3 - Food Donation
Accounting Policies: (1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de minimus indirect cost rate.
'Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Note 4 - Relationship to Financial Statements
Accounting Policies: (1) 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Title 2, Code of Federal Regulations, Part 200 (2 CFR 200), wherein certain types of expenditures are not allowable, or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10% de minimus indirect cost rate.
Federal expenditures, revenues, and capital contributions are reported in the County's basic financial statements as follows:See Notes to the SEFA for table