Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Town of Big Stone Gap, Virginia, under programs of the federal government for the year ended June 30, 2023. 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 Town of Big Stone Gap, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Town of Big Stone Gap, Virginia.
The Town did not have any subrecipients during the fiscal year.
Federal expenditures, revenues and capital contributions are reported in the Town's basic financial statements as follows: See chart In notes to SEFA