Notes to SEFA
Title: Note A - Basis of Presentation:
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Board did elect the 10% de minimus indirect cost rate.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mount Rogers Community Services Board 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 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 Mount Rogers Community Services Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of Mount Rogers Community Services Board.
Title: Note C - Subrecipients:
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Board did elect the 10% de minimus indirect cost rate.
No awards were passed through to subrecipients.
Title: Note D - Outstanding Loan Balances:
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Board did elect the 10% de minimus indirect cost rate.
At June 30, 2023, the Board had no outstanding loan balances requiring continuing disclosure.
Title: Note E - Provider Relief Funds:
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Board did elect the 10% de minimus indirect cost rate.
The amount reported for Provider Relief Funds on the Schedule is based upon the March 2023 reporting due to Health and Human Services that covers all amounts received by the Board through December 31, 2021.
Title: Note F - Reconciliation of Expenditures of Federal Awards to Financial Statements:
Accounting Policies: 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Board did elect the 10% de minimus indirect cost rate.
Federal revenue