Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Highland, 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 Highland, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Highland, Virginia.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2025, the County had $9,138 of food commodities in inventory. The value of food commodities expended during the year ended June 30, 2025 amounted to $17,515.
Federal expenditures, revenues, and capital contributions are reported in the County's basic financial statements as follows: Primary government: Governmental funds $ 656,264 Payments in lieu of tax received from the Department of the Interior not included on schedule (191,806) Total primary government $ 464,458 Component unit: School Board funds 350,946 Total County of Highland, Virginia $ 815,404