Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federalaward activity of Cooperative Extension Association in the State of New York, Orange County underprograms of the federal government for the year ended December 31, 2025. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Cooperative Extension Association in the State of New York, Orange County, it is not intended to anddoes not present the financial position, changes in net position, or cash flows of Cooperative Extension Association in the State of New York, Orange County.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theSchedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Association has elected not to use the 15 percent de minimis cost rate as allowed under the UniformGuidance.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipmentpurchased with federal funds has only a nominal value and is covered by the Association's casualtyinsurance policies.
The federal expenditures presented in the Schedule reconcile to the Grant Support Revenue reported in theStatement of Activities as follows: Federal Expenditures as Reported in the SEFA: SEFA 2,014,536 Reconciling Items: Grants and Other Contributions 399,423 Total Grants reported in the Statement of Activities 2,413,959