Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents all expenditures under federal financial assistance programs administered by the Board of Cooperative Educational Services, Albany-Schoharie-Schenectady-Saratoga Counties (BOCES), which is described in Note 1 to BOCES accompanying financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through other government agencies. 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 for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Matching costs (BOCES' share of certain program costs) are not included in the reported expenditures. The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with BOCES' financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the minimis cost rate.