Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Town of Colonial Beach, Virginia under programs of the federal government for the year ended June 30, 2025. 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 Colonial Beach, 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 Colonial Beach, Virginia.
Nonmonetary assistance is reported in the schedule at the fair market value of commodities received or disbursed.
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 78,442 Total primary government $ 1 78,442 Component Unit School Board: School Operating Fund $ 1,563,140 School Cafeteria Fund 4 40,822 Total Component Unit School Board $ 2,003,962 Total federal expenditures per basic financial statements $ 2,182,404 Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 2,182,404
No awards were passed through to subrecipients.
The Town has no loans or loan guarantees which are subject to reporting requirements for the current year.