Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Fauquier, 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the County of Fauquier, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Fauquier, Virginia.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. (3) The County did not elect to use the 15% de minimis indirect cost rate. (4) The County did not pass any federal awards through to subrecipients during the year ended June 30, 2025.
Federal expenditures, revenues, and capital contributions are reported in the County's basic financial stateemnts as follows: See table in notes to the SEFA.