Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of County of Giles, 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 County of Giles, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of County of Giles, Virginia.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. For the year ending June 30th, Giles County reported the use of $165,558 in commodities.
The County did not have any loans or loan guarantees which are subject to reporting requirements for the current year.
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 follows: