Notes to SEFA
Accounting Policies: NOTE A GENERALThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Northwest Colorado Board of Cooperative Educational Services. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements.The disclosure relating to subgranting does not apply to the BOCES.NOTE B BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.