Notes to SEFA
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all
federal awards programs administered by Child Development Council of Central New York,
Inc. d/b/a Child Development Council (the Council), an entity as defined in Note 1 to the
Council’s financial statements. Federal awards received directly from federal agencies, as
well as federal awards passed through from other government agencies, are included on the
Schedule of Expenditures of Federal Awards.
Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations
pertaining to each program.
The amounts reported as federal expenditures generally were obtained from the appropriate
federal financial reports for the applicable program and periods. The amounts reported in
these federal financial reports are prepared from records maintained for each program.
These records are periodically reconciled to the general ledger, which is the source of the
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the de minimus indirect cost rate under Uniform Guidance.