Title: General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule. The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule. The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule. The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
Of the federal expenditures presented in the Schedule, the County provided federal awards to subrecipients as follows: Program Title: Coronavirus State and Local Fiscal Recovery Fund (ARPA) (Unavailable). ALN: 21.027. Subrecipient: Williamsburg Tourism Council. Amount: $234,250.
Title: Uniform Grant Guidance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule. The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified
total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
Title: Restatement
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the County. The County’s reporting entity is defined in Note 1 to the basic financial statements. All amounts expended directly from federal agencies as well as monies passed through other government agencies are included on the Schedule. The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the County’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards, which is effective for new grants, issued after December 26, 2014, included changes to how indirect costs are awarded. In an effort to relieve administrative burden, the Office of Management and Budget (OMB) specified that non-federal entities that have never received a negotiated indirect cost rate may elect to charge a de minimis cost rate of 10 percent of modified total direct costs, which may be used indefinitely. The County elected not to apply the de minimis rate for fiscal year 2023.
The Schedule has been restated to remove $6,402 of federal e-rate funding which is not subject to the Uniform Guidance audit standards (originally reported as expenditures of program
#32.004 - Universal Service Fund - Schools and Libraries-E-rate). Note 3 above has been updated to report the total of the grant funds passed through to a subrecipient, Williamsburg Tourism Council. No amounts passed through to subrecipients were previously reported. Additionally, line items on the Schedule have been restated as follows: Originally Reported As Restated
Expended
Amount
passed
through to
subrecipients Expended
Amount
passed
through to
subrecipients
Department of the Treasury:
Pass-through payments:
Coronavirus State and Local Fiscal
Recovery Fund (ARPA) 21.027 $ 1,570,172 $ - $ - $ -
Pass-through payments:
Virginia Tourism:
Coronavirus State and Local
Fiscal Recovery Fund (ARPA) 21.027 - - 277,500 234,250
Virginia Department of Education:
Coronavirus State and Local
Fiscal Recovery Fund (ARPA) 21.027 - - 1,292,672 -
Total 21.027 $ 1,570,172 $ - $ 1,570,172 $ 234,250