Notes to SEFA
Title: 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 BOCES’s financial reporting system. 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 BOCES’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The BOCES did not elect to use the 10% de minimis cost rate.
No amounts were provided to subrecipients.
Title: 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 BOCES’s financial reporting system. 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 BOCES’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The BOCES did not elect to use the 10% 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: 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 BOCES’s financial reporting system. 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 BOCES’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The BOCES did not elect to use the 10% 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 BOCES’s casualty insurance policies. There were no loans or loan guarantees outstanding at year-end.