Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Town of South Hill, 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Town of South Hill, Virginia, it is not intended to be and does not present the financial position, changes in net position, or cash flows of the Town of South Hill, Virginia.
Federal expenditures, revenues and capital contributions are reported in the Town's basic financial statements as follows: Intergovernmental federal revenues per the basic financial statements: Primary government: General Fund $ 1,175,874, Captial Projects Fund 50,000, Water and Sewer Fund 1,561,842, Total Primary Government $2,787,716, Total Federal Expenditures per the Schedule of Expenditures of Federal Awards $2,787,716
No awards were passed through to subrecipients
The Town did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.