Audit 334202

Title: Note 1.      Noncash Assistance Accounting Policies: a. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared 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). The purpose of the Schedule is to present a summary of those activities of New York State Technology Enterprise Corporation (Corporation) funded by the federal government or pass-through entities for the year ended September 30, 2024, using the accrual basis of accounting. For purposes of this Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Negative amounts, if any, on the Schedule represent adjustments made to prior-year expenditures in the normal course of business. b. Relationship to Financial Statements Federal award revenues are reported in the Corporation’s financial statements as contract revenue. The Corporation’s financial statements are presented using the accrual basis. The Schedule presents only a selected portion of the activities of the Corporation. It is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Corporation. De Minimis Rate Used: N Rate Explanation: The Corporation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance There were no federal awards expended in the form of noncash assistance by the Corporation during the year ended September 30, 2024.