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 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 the 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee does not use the de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bland County, 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 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 Bland, Virginia, it is not intended to and does not present the financial position, changes in nets position, or cash flows of the County of Bland, Virginia.
Title: Note 3
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 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 the 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee does not use the de minimus cost rate.
Note 3 -- Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. At June 30, 2023, the Bland County School Board had food commodities totaling $27,427 in inventory.
Title: Note 4 -- 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 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 the 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee does not use the de minimus cost rate.
The County did not have any subrecipients for the year ended June 30, 2023.
Title: Note 5 -- 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 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 the 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee does not use the de minimus 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 $1,963,975
Less: Payment in Lieu of Taxes (240,813)
Total General Fund $1,723,162
Total primary government $1,723,162
Component Unit School Board:
School Operating Fund $1,779,348
Total federal expenditures per the basic financial statements $3,502,510
Federal expenditures per the Schedule of Expenditures of Federal Awards $3,502,510