Title: Note 2- Relationship to federal financial reports
Accounting Policies: Reporting Entity – The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the activity of all federal award programs administered by the County of Loudoun, Virginia (the “County”) and its component unit, the Loudoun County Public Schools. The County’s reporting entity is defined in Note I A of the County’s basic financial statements. Basis of Presentation – The information in the 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”). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal award program titles are reported as presented by the Assistance Listing Number (“ALN”) in effect for the year in which the award was granted. Basis of Accounting – The Schedule has been prepared on the modified accrual basis of accounting as defined in Note I B of the County’s basic financial statements. Matching Costs – The nonfederal share of certain program costs are not included in the Schedule. Federal Award Programs – The County’s programs include direct expenditures, monies passed through to other governmental entities (i.e., payments to subrecipients), and nonmonetary assistance.
De Minimis Rate Used: N
Rate Explanation: De Minimis Cost Rate – The County has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
The regulation and guidelines governing the preparation of federal financial reports vary by federal agency and among programs administered by the same agency. Accordingly, the amounts reported in the federal financial reports do not necessarily agree with the amounts reported in the accompanying Schedule.
Title: Note 3- Noncash and other programs
Accounting Policies: Reporting Entity – The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the activity of all federal award programs administered by the County of Loudoun, Virginia (the “County”) and its component unit, the Loudoun County Public Schools. The County’s reporting entity is defined in Note I A of the County’s basic financial statements. Basis of Presentation – The information in the 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”). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal award program titles are reported as presented by the Assistance Listing Number (“ALN”) in effect for the year in which the award was granted. Basis of Accounting – The Schedule has been prepared on the modified accrual basis of accounting as defined in Note I B of the County’s basic financial statements. Matching Costs – The nonfederal share of certain program costs are not included in the Schedule. Federal Award Programs – The County’s programs include direct expenditures, monies passed through to other governmental entities (i.e., payments to subrecipients), and nonmonetary assistance.
De Minimis Rate Used: N
Rate Explanation: De Minimis Cost Rate – The County has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
(a)The County received $23,262 pass-through property sub-awards under the Homeland Security Grant Program (ALN 97.067) for the year ended June 30, 2023. Such amounts are reflected in the accompanying Schedule and in the basic financial statements. (b) The Community Development Block Grant/Entitlement (“CDBG”) (ALN 14.218) is granted by U.S. Department of Housing and Urban Development (“HUD”) to develop viable urban communities by providing decent housing, a suitable living environment, and expanding economic opportunities, principally for persons of low and moderate income. The Loudoun County Home Improvement Program, which is funded by CDBG, provides loans and grants to income eligible homeowners to rehabilitate their homes. For the year ended June 30, 2023, $253,351 from program income was provided to clients. (c) The Section 8 Housing Choice Vouchers program (ALN 14.871) is granted by HUD to aid low-income families in obtaining decent, safe, and sanitary rental housing. For the year ended June 30, 2023, $447 from program income was provided to clients. (d) The Mainstream Vouchers program (ALN 14.879) is granted by HUD to aid persons with disabilities in obtaining decent, safe, and sanitary rental housing. For the year ended June 30, 2023, $500 from program income was provided to clients.