Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of King and Queen, 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 of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the County of King and Queen, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of King and Queen, Virginia.
The value of federal awards expended in the form of noncash assistance for food commodities is reported in the schedule.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as follows: Intergovernmental federal revenues per the basic financial statements: Primary government: General Fund $881,182 Children's Services Act Fund 37,674 Capital Projects Fund 1,216,562 Total primary government $2,135,418 Component Unit School Board: School Operating Fund $1,224,987 School Cafeteria Fund 576,261 Total Component Unit School Board $1,801,248 Total federal expenditures per the Schedule of Expenditures of Federal Awards $3,936,666
No awards were passed through to subrecipients.
The County did not elect to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance.
The County has no loans or loan guarantees which are subject to reporting requirements for the current year.