Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Radford City School Board under programs of the federal government for the year ended June 30, 2025. The information in the 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 Radford City School Board, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Radford City School Board.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
The School Board did not have any subrecipients for the year ended June 30, 2025.
The School Board has not received any federal funding through loans.
Federal expenditures and revenues are reported in the School Board's basic financial statements as follows:Intergovernmental federal revenues per the basic financial statements: Primary government: General Fund-Intergovernmental $ 40,924,335 Less: Contribution from the City of Radford, Virginia ( 5,364,829) Less: Revenue from the Commonwealth (35,559,217) School Grants Fund-Intergovernmental 1,659,394 Less: Revenue from the Commonwealth (323,766) Cafeteria Fund-Intergovernmental 1,031,652 Less: Revenue from the Commonwealth (26,662) School Textbook Fund-Intergovernmental 434,150 Less: Revenue from the Commonwealth ( 434,150) Southwest Virginia Governor's School Fund-Intergovernmental 390,106 Less: Revenue from the Commonwealth ( 390,106) School Construction Fund-Intergovernmental 8 5,516 Less: Contribution from the City of Radford, Virginia (85,516) Total School Board Federal Funding $ 2,340,907