Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the South Central Board of Cooperative Educational Services and is presented on the modified
accrual basis of accounting. The information is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in the preparation of the general purpose financial
statements.
De Minimis Rate Used: N
Rate Explanation: The BOCES has recovered indirect cost
from grant funds at an amount no greater than that allowed by the Colorado Department of
Education and has not elected to use the 10% de minimis indirect cost rate allowed by Uniform
Guidance
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the South Central Board of Cooperative Educational Services and is presented on the modified
accrual basis of accounting. The information is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in the preparation of the general purpose financial
statements
Title: INDIRECT COST RA TES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the South Central Board of Cooperative Educational Services and is presented on the modified
accrual basis of accounting. The information is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in the preparation of the general purpose financial
statements.
De Minimis Rate Used: N
Rate Explanation: The BOCES has recovered indirect cost
from grant funds at an amount no greater than that allowed by the Colorado Department of
Education and has not elected to use the 10% de minimis indirect cost rate allowed by Uniform
Guidance
All grants have been received from the Colorado Department of Education. The Department
calculates an allowable indirect cost rate for individual sub-recipients and mandates that the rate be
used as the maximum for the recovery of indirect cost. The BOCES has recovered indirect cost
from grant funds at an amount no greater than that allowed by the Colorado Department of
Education and has not elected to use the 10% de minimis indirect cost rate allowed by Uniform
Guidance.
Title: SUBRECIPIENT PAYMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the South Central Board of Cooperative Educational Services and is presented on the modified
accrual basis of accounting. The information is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in the preparation of the general purpose financial
statements.
De Minimis Rate Used: N
Rate Explanation: The BOCES has recovered indirect cost
from grant funds at an amount no greater than that allowed by the Colorado Department of
Education and has not elected to use the 10% de minimis indirect cost rate allowed by Uniform
Guidance
No amounts of federal financial assistance were passed through to subrecipients in the year ended
June 30, 2023.