Title: 1. General
Accounting Policies: The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 2
The accompanying Schedule of Expenditures of Federal Awards (the Schedule of SEFA) includes all federal grant
activity of the Town of Coeburn, Virginia. The Town of Coeburn, Virginia’s reporting entity is defined in Note 1 of
the basic financial statements. All federal financial assistance that passed through other government agencies or notfor-
profit organizations are included on the Schedule.
Title: 2. Basis of Accounting
Accounting Policies: The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 2
The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
Title: 3. Relationship to the financial statements
Accounting Policies: The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 2
Federal expenditures are reported in the reporting entity financial statements as follows:
Revenue from the Federal government – financial statements $ 863,528
Add (subtract) Federal Awards revenue recognized:
In prior fiscal years, spent this fiscal year -0-
In current fiscal years, but not spent -0-
Expenditures of Federal awards $ 863,528
Title: 4. Sub-recipient Payments
Accounting Policies: The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 2
The Town did not expend any funds to a subrecipient during the fiscal year ended June 30, 2024.
Title: 5. Indirect cost rate
Accounting Policies: The Schedule is presented in the accrual basis of accounting for the proprietary funds, as described in Note 1 to
the Town’s basic financial statements. 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). Therefore, some amounts
presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial
statements. For the year ended June 30, 2024, the Town of Coeburn, Virginia did not participate in any federal
programs in which non-cash benefits were provided through the State to eligible participants.
De Minimis Rate Used: N
Rate Explanation: The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 2
The Town has not elected to use the 10% de minimus indirect cost rate discussed in UG Section 200.414.