Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Northern Kentucky Cooperative for Educational Services, Inc. has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Northern Kentucky Cooperative for Education Services, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Northern Kentucky Cooperative for Educational Services, Inc. has not elected to use the 10% de minimis cost rate allowed under Uniform Guidance.
The Cooperative did not have any subrecipients during the year ended June 30, 2022.