The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wise County, 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 Wise, Virginia, it is not intended to and does not present the financial position, changes in nets position, or cash flows of the County of Wise, Virginia.
The County did not have any subrecipients for the year ended June 30, 2025.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. At June 30, 2025, the Wise County School Board had no food commodities in inventory.
The County did not receive any donated items during the year.
The County did not have any loans or loan guarantees which are subject to reporting requirements for the current year.
Federal expenditures, revenues, and capital contributions are reported in the County's basic financial statements as follows: Primary government: General Fund - Intergovernmental $ 29,396,703 Less: Revenue from the Commonwealth ( 21,351,482) Less: Payment in lieu of taxes (116,448) Nonmajor Governmental Funds - Intergovernmental 578,398 Less: Revenue from the Commonwealth (465,718) Total primary government $ 8 ,041,453 Component Unit School Board: School Operating Fund - Federal $ 8 ,212,387 Less: QSCB interest subsidy (670,119) School Cafeteria Fund - Federal 3,779,589 Total component unit school board 1 1,321,857 Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 19,363,310