Title: Basis of Presentation
Accounting Policies: (1) Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Charlotte, Virginia under programs of the federal government for the year ended June 30, 2022. 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 the County of Charlotte, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Charlotte, Virginia.
Title: Note 3 - Food Donation
Accounting Policies: (1) Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed.
Title: Note 5 - Loan Balances
Accounting Policies: (1) Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The County has no loan guarantees which are subject to reporting requirements for the current year.
Title: Note 6 - Relationship to Financial Statements
Accounting Policies: (1) Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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$ 2,565,384 CARES Act Fund 268,165 ARPA Fund 2,307,551 Library Fund 4,136 Less: Payments in lieu of taxes (54,245)Less: BAB Subsidy (63,750)Total primary government$ 5,027,241 Component Unit School Board:School Operating Fund$ 3,425,228 School Cafeteria Fund 935,487 Total component unit School Board$ 4,360,715 Total federal expenditures per basic financial statements 9,387,956 Total federal expenditures per the Schedule of Expenditures of Federal Awards 9,387,956