Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Buchanan, Virginia under programs of the federal government for the year ended June 30, 2025. The information in the Schedule is presented in accordance with the requirements of the Title 2. U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards . Because the Schedule presents only a selected portion of the operations of the County of Buchanan, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Buchanan, 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.
The County did not have any subrecipients for the year ended June 30, 2025.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as followsPrimary government: General Fund-Intergovernmental $ 26,564,061 Less: Revenue from the Commonwealth (16,851,784) Coal Road Fund-Intergovernmental 128,594 Less: Revenue from the Commonwealth (128,594) Component Unit Public Service Authority: Federal contributions in aid of construction 2,173,085 Component Unit School Board: School Operating Fund-Intergovernmental 69,676,459 Less: Revenue from Local Government (7,674,199) Less: Revenue from the Commonwealth (50,095,460) Less: Revenue from U.S. Army Corp of Engineers (5,850,644) Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 17,941,518