Title: Basis of Presentation
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the County of Gloucester, 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 of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the County of Gloucester, 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 Gloucester, Virginia.
Title: Food Donation
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The value of federal awards expended in the form of noncash assistance for food commodities is reported in the schedule.
Title: Relationship to Financial Statements
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
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 $ 3 52,786
Debt Service Fund 2 37,295
Special Revenue Funds:
Virginia Public Assistance Fund 2,230,019
American Rescue Plan Act 2,938,161
CSA Fund 61,125
Capital Projects Funds:
Capital Projects Fund 6 15,692
Total primary government $ 6,435,078
Component Unit School Board:
School Operating Fund $ 6,584,731
School Cafeteria Fund 2,394,452
Total component unit School Board $ 8,979,183
Less: BABs federal interest rate subsidy $ (237,295)
Less: Head Start (24,982)
Less: Payment in lieu of taxes (834)
Total federal expenditures per basic financial statements $ 15,151,150
Total federal expenditures per the Schedule of Expenditures of Federal Awards $ 15,151,150
Title: Subrecipients
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The County did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
No awards were passed through to subrecipients.
Title: Loan Balances
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: 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.