Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Alleghany, Virginia under programs of the federal government for the year ended June 30, 2024. The information in the 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 the County of Alleghany, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Alleghany, Virginia.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
The County has not received any federal funding through loans.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as follows: Primary government: General Fund-Intergovernmental $16,079,634 Less: Revenue from the Commonwealth (11,685,950) Less: Payments in Lieu of Taxes (475,620) Component Unit School Board: School Operating Fund-Intergovernmental 49,250,983 Less: Revenue from Local Governments (11,557,865) Less: Revenue from the Commonwealth (30,107,124) Governor's School Fund-Intergovernmental 54,571 Less: Revenue from the Commonwealth (54,571) Total federal expenditures per the Schedule of Expenditures of Federal Awards $11,504,058