Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
1 - Summary of certain significant accounting policies:
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
The accompanying schedule of expenditures of federal awards presents the activity of federal
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
award programs administered by Cornell Cooperative Extension Association of Jefferson
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
County, which is described in Note 1 to Cornell Cooperative Extension Association of Jefferson
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
County's accompanying financial statements using the accrual basis of accounting. Federal
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
awards that are included in the schedule may be received directly from federal agencies, as well
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
as federal awards that are passed through from other government agencies. The information is
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
from amounts presented in, or used in the preparation of, the financial statements.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SEE NEXT PAGES
De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
Certain of the Cornell Cooperative Extension Association of Jefferson County's federal award
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SEE NEXT PAGES
De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
programs have been charged with indirect costs, based upon a rate established by New York
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
State, and Cornell Cooperative Extension Association of Jefferson County has elected to use the
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SEE NEXT PAGES
De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
expenditures.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
Matching costs (Cornell Cooperative Extension Association of Jefferson County's share of
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
certain program costs) are not included in the reported expenditures. The basis of accounting
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
varies by federal program consistent with the underlying regulations pertaining to each program.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
The amounts reported as federal expenditures were obtained from the federal financial reports
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
for the applicable program and periods. The amounts reported in these reports are prepared from
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
records maintained for each program, which are reconciled with Cornell Cooperative Extension
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
Association of Jefferson County's financial reporting system.
Title: SUBRECIPIENTS
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
No amounts were provided to subrecipients.
Title: OTHER DISCLOSURES
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Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
No insurance is carried specifically to cover equipment purchased with federal funds. Any
Title: OTHER DISCLOSURES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
equipment purchased with federal funds has only a nominal value, and is covered by Cornell
Title: OTHER DISCLOSURES
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De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
Cooperative Extension Association of Jefferson County's casualty insurance policies.
Title: OTHER DISCLOSURES
Accounting Policies: SEE NEXT PAGES
De Minimis Rate Used: Y
Rate Explanation: BASED UPON A RATE ESTABLISHED BY NYS
There were no loans or loan guarantees outstanding at year-end.