Notes to SEFA
Title: NOTE A—BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Mountain BOCES has elected not to use a de minimis indirect cost rate as allowed under the Uniform Guidance. The Mountain BOCES utilizes a federally approved indirect cost rate approved by its cognizant
agency.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mountain
BOCES under programs of the federal government for the year ended June 30, 2024. The information in this
Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR),
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 Mountain BOCES it is not
intended to and does not present the financial position, changes in equity, or cash flows of Mountain BOCES.
Title: NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Mountain BOCES has elected not to use a de minimis indirect cost rate as allowed under the Uniform Guidance. The Mountain BOCES utilizes a federally approved indirect cost rate approved by its cognizant
agency.
Expenditures reported on the Schedule are reported on 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 reimbursement.
Title: NOTE C—INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Mountain BOCES has elected not to use a de minimis indirect cost rate as allowed under the Uniform Guidance. The Mountain BOCES utilizes a federally approved indirect cost rate approved by its cognizant
agency.
The Mountain BOCES has elected not to use a de minimis indirect cost rate as allowed under the Uniform
Guidance. The Mountain BOCES utilizes a federally approved indirect cost rate approved by its cognizant
agency.
Title: NOTE D—SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Mountain BOCES has elected not to use a de minimis indirect cost rate as allowed under the Uniform Guidance. The Mountain BOCES utilizes a federally approved indirect cost rate approved by its cognizant
agency.
There were no awards passed through to subrecipients in the current year.