Notes to SEFA
Title: CLUSTER PROGRAMS
Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESOrganizationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Broome-Tioga BOCES. The BOCES organization is defined in Note 1 to the BOCES basic financial statements.Basis of AccountingThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the BOCES and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following programs are identified by OMB Compliance Supplement to be part of a cluster of programs:U.S. Department of EducationStudent Financial Aid ClusterALN #84.268 Federal Direct Student Loans (Direct Loan)ALN #84.063 Federal Pell Grant Program
Title: STUDENT FINANCIAL AID CLUSTER
Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESOrganizationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Broome-Tioga BOCES. The BOCES organization is defined in Note 1 to the BOCES basic financial statements.Basis of AccountingThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the BOCES and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Student Financial Aid Cluster revenue of $446,099 is reported by the BOCES as Charges for Services since the amounts are for tuition paid by the program for qualifying students.
Title: INDIRECT COST RATE
Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESOrganizationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Broome-Tioga BOCES. The BOCES organization is defined in Note 1 to the BOCES basic financial statements.Basis of AccountingThe accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the BOCES and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The BOCES has not elected to use the 10% de minimis indirect cost rate.`