Notes to SEFA
Title: Note (B) - Reporting Entity
Accounting Policies: Basis of Accounting - The supplementary schedule of federal financial assistance is prepared on the modified accrual basis. Expenditures are recognized when they become a demand on current available financial resources. Certain federal financial assistance programs are in the form of noncash awards (See Note D). Federal financial assistance provided to subrecipient is treated as an expenditure when it is paid to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The county did not elect to use the 10% de minimus cost rate.
The County of Henrico, Virginia, for purpose of the supplementary schedule of federal financial assistance includes all the funds of the primary government as defined by GAAP. The County of Henrico, Virginia administers certain federal financial assistance programs through subrecipients. Those subrecipients are also not considered part of the County of Henrico, Virginia, reporting entity.
Title: Note (C) - Pass-Through Awards
Accounting Policies: Basis of Accounting - The supplementary schedule of federal financial assistance is prepared on the modified accrual basis. Expenditures are recognized when they become a demand on current available financial resources. Certain federal financial assistance programs are in the form of noncash awards (See Note D). Federal financial assistance provided to subrecipient is treated as an expenditure when it is paid to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The county did not elect to use the 10% de minimus cost rate.
The County of Henrico, Virginia, receives certain federal financial assistance from pass-through awards of the Commonwealth of Virginia. The amounts received are separately identified.
Title: Note (D) - Noncash Awards
Accounting Policies: Basis of Accounting - The supplementary schedule of federal financial assistance is prepared on the modified accrual basis. Expenditures are recognized when they become a demand on current available financial resources. Certain federal financial assistance programs are in the form of noncash awards (See Note D). Federal financial assistance provided to subrecipient is treated as an expenditure when it is paid to the subrecipient.
De Minimis Rate Used: N
Rate Explanation: The county did not elect to use the 10% de minimus cost rate.
Certain federal financial assistance programs do not involve cash awards to the County of Henrico, Virginia. These programs are donated commodities and food stamps as follows: See Notes to the SEFA for chart/table.