Notes to SEFA
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 toreimbursement.
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 the 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 toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The County has no loans or 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 toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Intergovernmental federal revenues per the basic financial statements:Primary government:General Fund $ 1,328,784Total primary government $ 1,328,784Component Unit School Board:School Operating Fund $ 3,361,606Total component unit school board $ 3,361,606Less Payments in Lieu of Taxes not reported on Schedule of Expenditures of Federal Awards $ (73,759)Total federal expenditures per basic financial statements $ 4,616,631Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 4,616,631
Title: Note 1 - 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 toreimbursement.
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 ofNelson, Virginia under programs of the federal government for the year ended June 30, 2022. The information in this Schedule ispresented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of theoperations of the County of Nelson, Virginia, it is not intended to and does not present the financial position, changes in net position,or cash flows of the County of Nelson, Virginia.