Notes to SEFA
Title: 1. Significant Accounting Policies, A. Basis of Presentation
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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the County
of Stafford, Virginia (County) 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 Stafford County, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of Stafford County.
Federal Financial Assistance – The Single Audit Act Amendments of 1996 (Public Law 104‐156) and the 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 the Uniform Guidance establish the criteria to be used
in defining major programs. Major programs for the County were determined using a risk‐based approach in accordance
with the requirements of Uniform Guidance.
Assistance Listing Number – Assistance Listing Number (ALN) is a catalog of numbers to reference federal awards and their
program titles. A searchable copy of the Assistance Listing and a PDF version are available through the Internet on the GSA
home page (https://beta.sam.gov). Note that if the Assistance Listing indicates under a program entry (Post Assistance
Requirements – Audit) that audit is “Not Applicable” or the program is not subject to 2 CFR Part 200 (Note: Some Assistance
Listing entries still may refer to OMB Circular A‐133), the auditee should contact the federal agency single audit
office/official indicated in Appendix III of the Supplement.
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.
Component Unit, Stafford County Public Schools has a separate Single Audit. They issue a separate set of financial
statements which includes an audit of federal awards.
Title: 2. 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
Title: 3. 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. Negative amounts shown on the Schedule represent adjustments or credits
made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The County has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The County has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.