Title: I. Basis of presentation and accounting
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of the County of Goochland, Virginia (County) and component units of the Goochland County
Public School Board and the Goochland County Economic Development Authority under programs of the
federal government for the year ended June 30, 2024. 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, it is not
intended to and does not present the financial position, changes in net position or cash flows of the County.
Federal Financial Assistance – The Single Audit Act Amendments of 1996 (Public Law 104-156) and
Uniform Guidance define federal financial assistance as grants, loans, loan guarantees, property (including
donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct
appropriations or other assistance. Nonmonetary deferral assistance including food commodities is
considered federal assistance and, therefore, is reported on the Schedule. Federal financial assistance does
not include direct federal cash assistance to individuals.
Direct Payments – Assistance received directly from the Federal government is classified as direct
payments on the Schedule.
Pass-through Payments – Assistance received in a pass-through relationship from entities other than the
Federal government is classified as pass-through payments on the Schedule.
Major Programs – The Single Audit Act Amendments of 1996 and Uniform Guidance establish the criteria
to be used in defining major programs. Major programs for the County of Goochland, Virginia and its
component units were determined using a risk-based approach in accordance with Uniform Guidance.
Federal Assistance Listing – The Federal Assistance Listing is a government-wide compendium of
individual federal programs. Each program included in the catalog is assigned a five-digit program
identification number, which is reflected in the Schedule.
Cluster of Programs – Closely related programs that share common compliance requirements are grouped
into clusters of programs. A cluster of programs is considered as one federal program for determining
major programs. The following are the clusters administered by the County of Goochland, Virginia and its
component units: Child Nutrition, SNAP, Special Education, Child Care and Development Fund, and
Medicaid.
Title: II. Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the modified 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.
Title: III. Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The County has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: IV. Non-cash assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The County has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
In addition to amounts reported on the Schedule, the County of Goochland, Virginia consumed non-cash
assistance in the form of food commodities. Commodities with a fair value of $82,541 at the time received
were consumed during the year ended June 30, 2024. These commodities were included in the
determination of federal awards expended during the year ended June 30, 2024.