Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Rappahannock Area Agency on Aging, Inc. under programs of the federal government for the year ended September 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 Rappahannock Area Agency on Aging, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Rappahannock Area Agency on Aging, Inc.
Federal expenditures, revenues and capital contributions are reported in the Agency's basic financial statements as follows: (see table in the notes to the SEFA)
The Agency executed loan agreements to borrow funds with the Department of Agriculture, acting through the Rural Housing Service, for the purpose of acquiring land and constructing a new office building. The loan had outstanding principal due in the amount of $1,385,519 at September 30, 2025.