Title: NOTE A - 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: (2) The County of Bath, Virginia has elected not to 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 Bath, Virginia 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 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 Bath, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Bath, Virginia.
Title: NOTE C - FOOD DISTRIBUTION
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: (2) The County of Bath, Virginia has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair value of the commodities received and disbursed.
Title: NOTE D - 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: (2) The County of Bath, Virginia has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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: Governmental funds $ 1,555,354 Less payments in lieu of tax under CFDA 15.226 not included above (413,989) Total primary government $ 1,141,365 Discretely presented component unit - School Board: School operating fund $ 605,979 School cafeteria fund 427,887 Less payments in lieu of tax under CFDA 15.226 not included above (134,500) Total discretely presented component unit - School Board $ 899,366 Total federal expenditures per basic financial statements $ 2,040,731 Total federal expenditures per the Schedule of Expenditures of Federal awards $ 2,040,731
Title: NOTE E - 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: (2) The County of Bath, Virginia has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No awards were passed through to subrecipients.