Notes to SEFA
The BOCES is an independent municipal corporation. All federal grant operations of the BOCES are included in the scope of the single audit.
The BOCES did not elect to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. (Effective for year beginning after October 1, 2024 the de minimus indirect cost rate increases to 15%.) 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 for the data presented.
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.