Notes to SEFA
Title: NOTE 3 SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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 the BOCESs financial reportingsystem. The federal expenditures are recognized under the Uniform Guidance. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of the data presented. The BOCES did not elect to use the 10% de minimis cost rate. Matching costs (the BOCESs share of certain program costs) are not included in the reported expenditures. The basis of accounting varies by federal program consistent with the underlying regulationspertaining to each program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts provided to subrecipients during the year were $161,731.
Title: NOTE 4 SCOPE OF AUDIT
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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 the BOCESs financial reportingsystem. The federal expenditures are recognized under the Uniform Guidance. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of the data presented. The BOCES did not elect to use the 10% de minimis cost rate. Matching costs (the BOCESs share of certain program costs) are not included in the reported expenditures. The basis of accounting varies by federal program consistent with the underlying regulationspertaining to each program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The BOCES is an independent municipal corporation. All federal grant operations of the BOCES are included in the scope of the single audit.
Title: NOTE 5 OTHER DISCLOSURES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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 the BOCESs financial reportingsystem. The federal expenditures are recognized under the Uniform Guidance. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of the data presented. The BOCES did not elect to use the 10% de minimis cost rate. Matching costs (the BOCESs share of certain program costs) are not included in the reported expenditures. The basis of accounting varies by federal program consistent with the underlying regulationspertaining to each program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds is covered by the BOCESs casualty insurance policies. There were no loans or loan guarantees outstanding at year-end.