Notes to SEFA
Title: Note 1. 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 to reimbursement. The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedules) includes the federal grant activity of the Ohio Valley Educational Cooperative (the Cooperative) under programs of the federal government for the year ended June 30, 2021. The information in this Schedule 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). Because the Schedule presents only a selected portion of the operations of the Cooperative, it is not intended to and does not present the financial position, changes in net position or cash flows of the Cooperative.
Title: Note 2. Summary of Significant Accounting Policie
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 to reimbursement. The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
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 to reimbursement. The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. Pass-through entity identifying numbers are presented where available.
Title: Note 3. 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 to reimbursement. The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
There have been no awards provided by the Cooperative to subrecipients.