Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by 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 wellas federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federa lAwards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. Certain of the BOCES' federal award programs have been charged with indirect costs, based upon a rate established by New York State, and BOCES has elected not to use the 10% deminimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures. 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: NA
No amounts were provided to subrecipients.
Title: Other Disclosures
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by 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 wellas federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federa lAwards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. Certain of the BOCES' federal award programs have been charged with indirect costs, based upon a rate established by New York State, and BOCES has elected not to use the 10% deminimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures. 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: NA
No insurance is carried specifically to cover equipment purchased with federal funds. Anyequipment purchased with federal funds has only a nominal value, and is covered by BOCES'casualty insurance policies.There were no loans or loan guarantees outstanding at year-end.