Audit 321726

Title: Basis of Accounting Accounting Policies: The   schedule   of   expenditures   of   federal   awards   includes   the   federal   award  activity   of Cornell Cooperative Extension Association of St. Lawrence County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Cornell Cooperative Extension Association of St. Lawrence County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Association. De Minimis Rate Used: N Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the date presented. Cornell Cooperative Extension Association of St. Lawrence County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The amounts reported in the schedule of expenditures of federal awards are recorded using the accrual basis of accounting. 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 reimbursements. Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements.