Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Northumberland, Virginia under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200. Because the Schedule presents only a selected portion of the operations of the County of Northumberland, Virginia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the County of Northumberland, Virginia.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received or disbursed.
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 $2,121,437 Component Unit School Board: School Operating Fund $2,953,013 School Cafeteria Fund 887,503 Total Component Unit School Board $3,840,516 Total expenditures of federal awards per basic financial statements $5,961,953 Total expenditures of federal awards per the Schedule of Expenditures of Federal Awards $5,961,953
The County did not elect to use the 10-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.