Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Richmond, 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 Richmond, Virginia, it is not intended to be and does not present the financial position, changes in net position, or cash flows of the County of Richmond, Virginia.
Nonmonetary assistance is reported in the schedule at the fair value of the commodities received and disbursed.
Federal expenditures, revenues and capital contributions are reported in the County's basic financial statements as follows: Primary government: General Fund $1,088,226 Special Revenue Funds: Workforce Investment Act Fund $1,653,603 Fidicuary Funds : Menokin Foundation $60,576 Total primary government $2,802,405 Componit unit School Board School Operating Fund 1,078,851 School Cafeteria Fund 1,115,051 Total Component Unit School Board 2,193,902 Total federal expenditures per basic financial statements 4,996,307 Add: USDA loan proceeds Less: Federal interest subsidy -220,352 less: payment in lieu of taxes -37697 Total expenditures of federal awards per the Schedule of Expendiutres of Federal Awards 4,738,258
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.