Title: 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 Guidance, 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-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Essex, 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 requirements of Title 2 U.S. Code of Federal Regulations (Uniform Guidance) Part 200, Uniform Requirements, Cost Principles, and Audit Requirements for Federal Awards . Because the Schedule presents only a selected portion of the operations of the County of Essex, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Essex, Virginia.
Title: 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 Guidance, 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-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Subrecipients
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 Guidance, 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-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
No awards were passed through to subrecipients.
Title: Relationship to Financial Statement
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 Guidance, 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-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as follows:
Intergovernmental federal revenues per the basic financial statements:
Primary government:
General Fund $ 1,458,740
Special Revenue Funds:
County Special Revenue Fund 19,575
County Capital Improvements Fund 25,073
Total primary government $ 1,503,388
Component Unit - School Board:
School Operating Fund $ 3,819,837
School Special Revenue Fund 880,657
Total component unit School Board $ 4,700,494
Total federal expenditures per basic financial
statements $ 6,203,882
Federal interest subsidy $ (400,775)
Payments in lieu of taxes (3,417)
Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 5,799,690
Title: Loan Balances
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 Guidance, 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-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The County has no loans or loan guarantees which are subject to reporting requirements for the current year.