Notes to SEFA
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's financial reporting system.
Students attending Dutchess County Board of Cooperative Educational Services received the following new loans during the year ended June 30, 2025. 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. Federal Direct Student loans: 84.268 $197,381
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.
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 $13,039.
Of the federal expenditures presented in the Schedule, the BOCES provided federal awards to subrecipients as follows: ALN 84.365 - $37,682 Member District
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 reported in the Schedule Reconciling Items: $3,079,782 Reconciling Items: None $0 Federal Aid as reported in the Statement of Revenues, Expenditueres and Changes in Fund Balance: $3,079,782