Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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 limited as to
reimbursement.
Matching costs (the District’s share of certain program costs) are not included in the reported
expenditures.
The basis of accounting varies by federal program consistent with the underlying regulations
pertaining to each program. Expenditures are recognized following cost principles contained
in the Uniform Guidance, wherein certain types of expenditures are not allowable or are
limited as to reimbursement.
Pass-through numbers are presented where available.
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 District’s financial
reporting system.
Non-monetary assistance is reported in the schedule at the fair market value of commodities
received, which is provided by New York State.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
No amounts were provided to subrecipients.
Title: OTHER DISCLOSURES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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 limited as to
reimbursement.
Matching costs (the District’s share of certain program costs) are not included in the reported
expenditures.
The basis of accounting varies by federal program consistent with the underlying regulations
pertaining to each program. Expenditures are recognized following cost principles contained
in the Uniform Guidance, wherein certain types of expenditures are not allowable or are
limited as to reimbursement.
Pass-through numbers are presented where available.
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 District’s financial
reporting system.
Non-monetary assistance is reported in the schedule at the fair market value of commodities
received, which is provided by New York State.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
No insurance is carried specifically to cover equipment purchased with federal funds. Any
equipment purchased with federal funds has only a nominal value, and is covered by the
District’s casualty insurance policies.
There were no loans or loan guarantees outstanding at year end.