Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
Matching costs (the BOCES' 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. 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' financial reporting system.
Title: LOAN PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
Students attending Dutchess County Board of Cooperative Educational Services received the following new loans during the year ended June 30, 2024. These loans are made by an organization separate from the BOCES. The value of the loans made during the year is included as federal expenditures presented in the schedule.
Custer/Program Title Assistance Lisiting Number Value of Current Year Loans
Federal Direct Student Loans 84.268 $336,316
Title: INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
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 BOCES' casualty insurance policies.
Title: NON-MONETARY ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. Such assistance has been apportioned to the lunch and breakfast program and total $9,282.
Title: SUBRECEIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
Of the federal expenditures presented in the Schedule, the BOCES provided federal awards to subrecipients as follows:
ALN 84.365 - $47,266 Member Districts
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “schedule”) presents the activity of federal award programs administered by the BOCES, which is described in Note 1 to the BOCES’ basic financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Certain federal award programs of the BOCES have been charged with indirect costs, based upon a rate established by New York State. The BOCES has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance applied to overall expenditures.
The federal expenditures presented in the Schedule reconcile to the State and Federal revenue reported in the Statement of Revenues, Expenditures and Changes in Fund Balance as follows:
Federal Expenditures as repored in the Schedule Reconiling Items: $3,030,227
None $0
Federal Aid as reported in the Statement of Revenues, Expenditures and Chnages in Fund Balance $3,010,227